In the current cryptocurrency market, for Bitcoin to see its annual peak it needs to surpass the $44,500 level. The strong demand in the market and the absence of significant macroeconomic developments by Friday are encouraging investors. Although not all altcoins are recovering at the same pace, there are exceptional cryptocurrencies that are performing positively. So, what are the expectations for XRP Coin?
Seeing closures below a significant support level of 0.0000155 against Bitcoin (BTC) for XRP Coin could lead to setting new decline targets between 0.0000124 BTC and 0.0000134 BTC. XRP Coin, which has been showing a weak signal on the MACD for months, could fall below $0.55 if the support level breaks. However, if BTC rises rapidly, the loss in dollar parity may be less than expected.
In the short term, XRP Coin is not expected to perform well against BTC. The flow of news doesn’t support this view either. Next year will see a collective appeal process, and the news about the case (except for the appeal results) will generally be negative for the price.
Looking at the dollar parity, it is seen that the middle zone of the parallel channel has been lost. As long as the price continues to close below $0.75, corrections are likely. In the case of an oversold condition, closures below $0.5755 can trigger new declines.
If the price surpasses the middle zone of the parallel channel, the target will be the $0.94 level. There was a rejection from this ceiling line in July, and if it is surpassed, the doors to peaks above $1.3 could be opened.
