{"id":283638,"date":"2021-06-25T13:04:24","date_gmt":"2021-06-25T10:04:24","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/xrp-price-will-fall-to-new-lows-vs-bitcoin-if-this-famous-chart-pattern-plays-out\/"},"modified":"2021-06-25T13:04:24","modified_gmt":"2021-06-25T10:04:24","slug":"xrp-price-will-fall-to-new-lows-vs-bitcoin-if-this-famous-chart-pattern-plays-out","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/xrp-price-will-fall-to-new-lows-vs-bitcoin-if-this-famous-chart-pattern-plays-out\/","title":{"rendered":"# XRP price will fall to new lows vs. Bitcoin if this famous chart pattern plays out"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3f3c503ff4e\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3f3c503ff4e\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/xrp-price-will-fall-to-new-lows-vs-bitcoin-if-this-famous-chart-pattern-plays-out\/#All-time_low_ahead\" >All-time low ahead<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/xrp-price-will-fall-to-new-lows-vs-bitcoin-if-this-famous-chart-pattern-plays-out\/#Support_levels_ahead\" >Support levels ahead<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/xrp-price-will-fall-to-new-lows-vs-bitcoin-if-this-famous-chart-pattern-plays-out\/#XRPUSD\" >XRP\/USD<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># XRP price will fall to new lows vs. Bitcoin if this famous chart pattern plays out <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Ripple blockchain&#8217;s native token XRP could make a full bearish price swing against Bitcoin (BTC), as per a classic technical indicator.<\/p>\n<p>Dubbed as <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.investopedia.com\/terms\/h\/head-shoulders.asp\">Head and Shoulders<\/a> (H&amp;S), the pattern develops when an asset forms three peaks atop a common baseline. The outside peaks, known as Shoulders, are close in height, while the middle one, called the Head, is the highest.<\/p>\n<p>The H&amp;S pattern is completed when the asset breaks below its baselines support, with high volumes, confirming a negative breakout. The so-called neckline also serves as the most common entry point for bearish traders as they target deeper downside levels. Though not every time, an H&amp;S pattern&#8217;s profit target comes to be equal to the distance between the pattern&#8217;s high point and its neckline.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"All-time_low_ahead\"><\/span>All-time low ahead<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Peter Brandt, the CEO of\u00a0Factor LLC, a global trading firm he established in 1980, sees the XRP\/BTC instrument painting an H&amp;S pattern. In a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/PeterLBrandt\/status\/1408237396450320387\">tweet published early Friday<\/a>, Brandt raised speculation that the bearish indicator might prompt the Ripple token to turn into &#8220;a tidal wave&#8221; against Bitcoin. The veteran trader added:<\/p>\n<blockquote><p>&#8220;Completion of the [H&amp;S pattern] would set [XRP\/BTC] target at all-time-lows.&#8221;<\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-06\/d948923c-015d-4a44-946d-76eefc2745db.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>XRP has broken below the H&amp;S neckline with strong volumes. Source: TradingView.com, Peter Brandt<\/em><\/figcaption><\/figure>\n<p>The total distance between the H&amp;S pattern&#8217;s top and its baselines comes out to be around 1,794 satoshis. Meanwhile, the neckline support coincides with 2,120 satoshis. Therefore, the profit target in XRP\/BTC&#8217;s case is (2,120-1,794), i.e., 326 satoshis.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Support_levels_ahead\"><\/span>Support levels ahead<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>But as XRP\/BTC <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roaches its record low levels, the pair would still need to pass through a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/watch-movies-tv-seriess\/\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Watch Movies &amp; TV Series\" target=\"_blank\" rel=\"noopener\">series<\/a> of strong support levels. \u00a0<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-06\/f70038f3-8733-4441-9953-691097e9d08e.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>XRP tests 200-day simple moving average as its first line of support. Source: TradingView.com<\/em><\/figcaption><\/figure>\n<p>The XRP\/BTC exchange rate bounced off its 200-day simple moving average (200-day SMA; the saffron wave) support at 1,696 satoshis. Should the pair sustain above the wave, the likelihood of retesting the H&amp;S neckline around 2,120 satoshis is high. Meanwhile, a close above 2,120 satoshis would invalidate the H&amp;S structure.<\/p>\n<p>On the other hand, breaking below 200-day SMA exposes XRP\/BTC to the next line of support near 1,555 satoshis. The level was instrumental in pushing the pair up by more than 170% in November 2020. Nonetheless, its Volume Profile shows a weaker trading activity in recent history, raising possibilities that it won&#8217;t be able to handle strong selling volumes as the H&amp;S breakout accelerates.<\/p>\n<p>The last line of defense, as per the Volume Profile indicator, sits at 847 satoshis, more than twice above the H&amp;S profit target of 326 satoshis.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"XRPUSD\"><\/span>XRP\/USD<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Against the US dollar, XRP continued trending lower in its months-old descending channel pattern, while promising short-term upside opportunities. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-06\/4ea0eb7f-00df-4afa-ba62-f4ea48c8cdc3.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>XRP bounced off its lower descending channel support on June 22. Source: TradingView.com<\/em><\/figcaption><\/figure>\n<p>The XRP\/USD rebounded by up to 44.53% after testing the Channel&#8217;s support trendline on June 22. The pair&#8217;s move uphill had it test $0.69 as its interim resistance as bulls targeted an extended push towards $0.78.<\/p>\n<p><strong><em>Related:\u00a0Price analysis 6\/23: BTC, ETH, BNB, ADA, XRP, DOGE, DOT, UNI, BCH, LTC<\/em><\/strong><\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24XRP&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$XRP<\/a><\/p>\n<p>Reclaiming $0.63 is cool but $0.79 will be the real test.<\/p>\n<p>Let&#8217;s see if <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a> allows price to even get close to $0.79 in the short term&#8230; <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/PhHR7OJCQQ\">pic.twitter.com\/PhHR7OJCQQ<\/a><\/p>\n<p>\u2014 Posty (@PostyXBT) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/PostyXBT\/status\/1408328604472287232?ref_src=twsrc%5Etfw\">June 25, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The $0.69-level has served as the resistance between November 2020 and April 2021. Meanwhile, the $0.78-level capped XRP\/USD from extending its downside bias throughout May 2021.<\/p>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. 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Dubbed as Head and Shoulders (H&amp;S), the pattern develops when an asset forms three peaks atop&#8230;<\/p>\n","protected":false},"author":1,"featured_media":283639,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDYvZjA1NTVkNjEtNzljNi00MWUzLThiMTYtMDgwNzAzMmM3N2UzLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[88119,75302,79806,74937,74939,75150,75034,78261,75557,73785],"class_list":["post-283638","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin-watch","tag-altcoins","tag-analysis","tag-bitcoin-price","tag-market-analysis","tag-market-update","tag-ripple","tag-tech-analysis","tag-xrp","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/283638","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=283638"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/283638\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/283639"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=283638"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=283638"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=283638"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}