XRP Crash Brewing? Prices Continue to Print 'Lower Highs' Alongside New Highs in Bitcoin

This is an investigation station by CoinDesk expert and Chartered Market Technician Omkar Godbole.

Alternative cryptocurrencies typically determination successful tandem with bitcoin (BTC), but the magnitude of their terms swings often differs.

Take payments-focused XRP arsenic an example. Since July, each upswing successful Bitcoin has triggered rallies successful XRP; however, XRP has consistently produced "lower highs." A little precocious occurs erstwhile a terms highest is little than the erstwhile one, indicating weakening buying pressure.

This persistent signifier of little highs successful XRP, alongside bitcoin’s caller highs, signals underlying weakness successful XRP’s momentum – a motion of little condemnation among XRP buyers compared to BTC. It suggests that XRP whitethorn beryllium susceptible to sharper losses during bitcoin pullbacks.

Bitcoin embarked connected a crisp rally successful precocious September, reaching a caller precocious of implicit $126,000 connected Monday. XRP besides saw buying interest, but its upswing peaked astatine $3.10 – good beneath its September precocious of $3.19.

XRP had formed a akin little precocious successful mid-August, erstwhile bitcoin surged to its then-all-time precocious of $124,000.

This bid of little highs successful XRP since July, occurring against the horizontal enactment portion of $2.65–$2.70, suggests weakening purchaser strength.

In different words, with each little high, the likelihood of XRP breaking beneath this enactment portion and perchance triggering a deeper sell-off to $2.00 increases.

Prices request to apical the latest little precocious of $3.10 with precocious volumes to invalidate the bearish setup.

That said, arsenic of now, the play MACD histogram, a cardinal indicator for assessing inclination spot and imaginable reversals, supports the bearish outlook. It crossed beneath the zero enactment past period and is present producing progressively deeper bars beneath zero, signaling strengthening downward momentum.