🔥 Gate.io Launchpool $1 Million Airdrop: Stake #ETH# to Earn Rewards Hourly
【 #1# Mainnet - #OM# 】
🎁 Total Reward: 92,330 #OM#
⏰ Subscription: 02:00 AM, February 25th — March 18th (UTC)
🏆 Stake Now: https://www.gate.io/launchpool/OM?pid=221
More: https://www.gate.io/announcements/article/43515
XRP Faces Resistance Against Bitcoin as Technical Indicators Suggest Pause
– Advertisement –
XRP’s recent rally against Bitcoin (BTC) has stalled after encountering resistance at a key technical level. Data from Bollinger Bands, a tool measuring price volatility, shows XRP reached the middle band of the indicator at 0.00002685 BTC but failed to sustain upward momentum. This follows a 9% rise against BTC over two days, with the asset peaking precisely at the middle band.
In XRP’s case, this suggests its recent outperformance against Bitcoin may enter a consolidation phase. ETHNews analysts note that prolonged failure to breach this level could lead to a retest of the lower band at 0.0000241 BTC, representing a 9.48% decline from current prices.
XRP’s performance against the U.S. dollar remains tied to broader market factors, including investor sentiment and developments such as potential XRP exchange-traded funds (ETFs). The asset’s ability to hold above the middle band will likely influence short-term trader strategies.
A daily close below this level could prompt further declines, with traders monitoring for signs of renewed selling pressure.
Market participants emphasize the importance of the middle band as a short-term pivot point. A sustained hold above it could renew bullish sentiment, whereas a breakdown might trigger algorithmic selling.
XRP currently trades at 0.00002685 BTC, with volatility expected to persist in coming sessions. Traders remain watchful, as technical patterns and market dynamics collide in shaping XRP’s next move.
Disclaimer: ETHNews does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to cryptocurrencies. ETHNews is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.