Altcoin News

Ripple Struggling Against Bitcoin (XRP/BTC)

Ripple continues to move lower against Bitcoin as it broke the 127.2% Fibonacci retracement level. On the 25th of October, it rejected the 200 Moving Average and stayed below since then.

Today XRP/BTC rejected the 127.2% Fibs and now it is acting as a resistance. It also broke below the previous low established on the 26th of October. Finally, Ripple rejected the middle trendline of the descending channel which is also treated as a resistance downtrend trendline.

Ripple is expected to move lower to test 161.8% Fibonacci retracement level at 2936 Satoshi. If it goes lower, downtrend might continue even further. Only a break above 3545 Satoshi could change the direction for Ripple, but until then, a bearish trend will remain valid.

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Adrian Mathieu
About author

Adrian is a cryptocurrency trader and writer since 2014. He follows closely coins such as Bitcoin, Ethereum and NEO to little known ICOs, constantly analyzing crypto markets in order to stay informed. Email Adrian directly at adrian@ethereumworldnews.com
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