XRP/BTC pairs find 7-month Low and Dollar Crashing to 3-Year Low Alarming
The post XRP/BTC pairs find 7-month Low and Dollar Crashing to 3-Year Low Alarming appeared on BitcoinEthereumNews.com.
Analysts note a possible falling wedge pattern on the XRP/BTC chart, suggesting a potential 29% recovery to 0.00002560 if confirmed. XRP against the U.S. dollar hovers near the $2.09 support level with heightened volatility. The XRP/BTC trading pair dropped to a seven-month low this week under pressure of mounting concerns around the U.S. monetary policy and accelerating macroeconomic pressure. The pair slipped to 0.00001982 on Thursday, retreating from its January high near 0.000034, with price charts suggesting the selloffs could deepen further. XRP/BTC Plunges To New Low The U.S. Dollar Index (DXY) recently fell to a three-year low, as reported earlier. The currency markets were extremely sensitive in responding to the political statements during a NATO meeting where U.S. President Donald Trump criticized Federal Reserve Chairman Jerome Powell. Trump also hinted at changes in Fed leadership as he has already started reviewing candidates to replace Powell. Meanwhile, the fall of the U.S. dollar has caused a capital inflow into a number of digital resources such as Bitcoin (BTC) and Ethereum (ETH), but Ripple’s XRP is not keeping up yet. Source: TradingView Technical analysis of the XRP/BTC daily chart indicates that a bearish crossover, famously referred to as a “death cross,” emerged on June 12. This comes after the 50-day exponential moving average crossed under the 200-day EMA to give strength to the direction of the slump. Also, the pair has fallen to a low of 37 in its Relative Strength Index (RSI), indicating increased bearish pressure since it approaches an oversold level. In spite of the decline, analysts are monitoring a potential falling wedge construction on the charts. This trend, which is marked by a convergence of the trend lines and the diminishing volume of trade, can quite easily indicate a change in trend. Nonetheless, they are lacking in volume…
Filed under: News - @ June 28, 2025 10:17 am