A recent technical sign has emerged on the XRP/BTC daily chart, indicating that XRP is losing ground to Bitcoin. The formation of a death cross, where a short-term moving average crosses below a long-term one, suggests slowing momentum and potential weakness.
The 23-day moving average now lies below the 200-day average, often seen as a sign that an asset’s momentum is slowing down. In this case, XRP appears to be taking a backseat to Bitcoin, with the chart displaying this shift. Furthermore, XRP/BTC hit resistance at the middle line of Bollinger Bands but failed to break through it, adding to the sense that the pair is stuck below key levels.
Recent volume data shows no meaningful increase to justify a bullish reversal, following an earlier price rally that has since cooled off. These developments point to XRP growing weaker against Bitcoin, although they do not necessarily signal an immediate breakdown.
The next few trading sessions will be crucial in determining the trend. For XRP to regain ground and favorably compete with Bitcoin, there needs to be a push back above resistance levels. If this doesn’t happen, the current trend will continue to favor Bitcoin in this pairing.
Source: https://u.today/death-cross-alert-xrp-on-brink-of-failure-against-bitcoin