Bitcoin
Has the price of XRP fallen against Bitcoin? – TradingView News
The price of XRP in terms of Bitcoin fell to a three-year low this week, suggesting a potential local bottom and buying opportunity for XRP.
XRP/BTC Price Ratio Falls to 2021 Low
XRPs XRPUSD price compared to Bitcoin 
On the monthly chart, this chart pattern can be interpreted as a strong signal of an XRP/BTC bottom, according to Tony Severino, founder of CoinChartist, who wrote in a May 6 X post:
“Great place – he’s right. XRP/BTC just issued a bottom target signal.”
Despite the optimistic formation of the chart, 
XRP’s march can be largely attributed to Ripple’s ongoing lawsuit with the United States Securities and Exchange Commission, according to Iva Wisher, co-founder and chief operating officer of Prom and former chief analyst at 3commas. Wisher told Cointelegraph:
“XRP’s price movement is linked to the uncertainty generated by its legal battle with the SEC. Such obstacles naturally lead to cautious investor sentiment and reduced business activity.”
The SEC sued Ripple in 2020, accusing it of illegally raising $1.3 billion through an alleged unregistered securities offering by selling XRP.
In the latest development, Ripple challenged the SEC’s request to impose a $2 billion fine against the blockchain company, saying the fine should not exceed $10 million.
Related: Bitcoin enters a ‘new era’ as whales capture over 47K BTC during price pullback
Is local XRP at the bottom?
Despite XRP’s subdued price action, it could reach a new all-time high in July, according to pseudonymous crypto analyst Charting Guy, who wrote in a May 6 post on X:
“The projected target of the fractal is 0.00006486. At today’s BTC price, that puts us at an XRP of approximately $4.09. As I’ve been saying all along, a new historic record in July. Now let’s say $BTC is between $85,000 and $100,000 at that time, as I think it will be. So we are talking about an XRP of $5.51 to $6.48.”
On the daily chart, XRP’s relative strength index (RSI) indicator stood at 50, suggesting that the price of XRP is currently neutral or at fair value, above the low of 28 on April 13, when the price of XRP was oversold.
The RSI is a popular momentum indicator used to measure whether an asset is oversold or overbought based on the magnitude of recent price changes.
However, the price of XRP has been in a downtrend for over three years. On the weekly chart, XRP has been showing lower highs since April 2021. If this trend continues, the charts suggest that XRP price could fall to the $0.31 level, which has been a significant support area during 2022 and 2023 .
Related: Bitcoin Distribution ‘Danger Zone’ Is Over, Analysts Say
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.