The post XRP Price Prediction: Bullish Chart Pattern Signals Potential Breakout Against Bitcoin appeared first on Coinpedia Fintech News
XRP price has been surging steadily against Bitcoin in recent weeks, suggesting a positive outlook for XRP price prediction. September is usually a weak month for Bitcoin and other top cryptocurrencies, but XRP might stand out and perform better than the rest. The main reason is that the SEC is expected to approve XRP ETFs in the fourth quarter of this year. Big players like Franklin Templeton and Bitwise are already in the race, while giants like BlackRock and Fidelity are still holding back.
XRP vs Bitcoin: Will XRP Go Up Against Bitcoin?
XRP has climbed more than 7% over the past week, even as most other cryptocurrencies dropped. According to data from Coinglass, XRP saw over $9 million in liquidations, with bearish traders taking the biggest hit as they closed about $7.4 million worth of short positions.
XRP has outperformed Bitcoin by almost 293% since Donald Trump’s re-election in November, boosted by Ripple’s SEC lawsuit settlement and growing demand around a potential spot ETF. This momentum has created a bullish setup on the XRP/BTC price chart.
XRP/BTC Chart
Currently, the chart shows a descending channel pattern, where XRP has already made three attempts to break through the trend line. The pair is now trading around 0.00002652, with buyers pushing to lift the price above the resistance.
If XRP/BTC manages a strong close above this level, it could confirm the bullish pattern and pave the way for a rally toward 0.000035, over 30% higher than its current price.
Also read: Bitcoin on the Edge: Will BTC Break Out or Face a Fakeout After Tight Consolidation?
Bitcoin’s market dominance has dropped to about 57.6%, its lowest level since February, suggesting that money may be starting to flow into other cryptocurrencies, with XRP standing out as a likely winner.
If XRP ETFs attract stronger inflows than skeptics expect, it could build a powerful narrative around the token and potentially drive it toward a new all-time high.
XRP Technical Analysis: What to Expect Next?
XRP has formed a descending triangle pattern, which will be confirmed if the price breaks and closes above $3. As of writing, XRP price trades at $2.99, surging over 4% in the last 24 hours.
The rising 20-day EMA ($2.86) and the RSI hovering around the overbought region at 71 suggest that buyers currently have the upper hand. However, a downward correction might emerge if buyers face any upcoming resistance. If the price drops sharply from the 20-day EMA, the chances of breaking below $2.7 increase, which could send the XRP/USDT pair down toward $2.1.
On the flip side, if XRP holds above the descending trend line, it would signal that the bears are losing control. In that case, the price could climb to the $3 level, where sellers are likely to put up strong resistance. A clean break and close above this would cancel any bearish setup and open the way for a rally toward $3.4 and potentially $3.7.