The price of XRP in terms of Bitcoin has reached a three-year low, indicating a potential buying opportunity for XRP. According to TradingView data, the XRP/BTC price ratio is currently at its lowest point since April 2021. This chart pattern suggests a possible bottom for XRP/BTC, as stated by Tony Severino, the founder of CoinChartist. However, XRP/USD has been in a downtrend since the beginning of 2024, with a YTD decline of over 14%. In contrast, BTC/USD has risen by more than 43%. The decline in XRP’s price can be attributed to Ripple’s ongoing lawsuit with the SEC. Ripple is contesting the SEC’s request for a $2 billion fine, arguing that it should not exceed $10 million. Despite the current price action, there is a possibility that XRP could reach a new all-time high by July, according to the pseudonymous crypto analyst Charting Guy. The RSI indicator suggests that XRP’s price is currently neutral or at fair value. However, if the downtrend continues, the XRP price could fall back to the $0.31 level, which has been a significant support area in the past. Please note that this article does not provide investment advice, and readers should conduct their own research before making any investment decisions.
Has the price of XRP just reached its lowest point against Bitcoin?
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