XRP is facing ongoing declines while investors are more focused on Bitcoin and Ethereum. Even with occasional upwards movements, the overall market sentiment remains pessimistic.

Technical Analysis

The USDT Pair

XRPUSDT remains within a sharply descending channel. A recent attempt to dip below $1.80 was unsuccessful as this critical support held. The market shows signs of slight recovery, likely nearing the channel’s upper boundary once again.

However, the formation shows a consistent pattern of lower highs and lower lows, with the RSI still languishing under 50. Thus, upward momentum appears weak, and further bearish price action could happen unexpectedly.

XRPUSDT Chart

The BTC Pair

The situation with the XRP/BTC pairing is even more dire. Following the creation of a rising wedge during October and November, XRPBTC has plunged significantly over the past weeks, now settling just over 2,100 sats. This is below the 100 and 200-day moving averages, both situated around the 2,300-2,400 sats range.

The RSI indicates it is nearing an oversold condition, but there are no signs of divergence or a reversal just yet. If the downtrend continues, the next major support is at 2,000 sats, a previous low for XRP earlier this year. If buyers cannot reclaim the 2,500 sats level shortly, XRP is likely to continue underperforming against BTC in the weeks ahead.

XRPBTC Chart

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Disclaimer: The viewpoints expressed in the article belong to the authors and do not necessarily reflect the outlooks of CryptoPotato regarding investment decisions. Conduct your own research before making any investment choices.