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U.Today - If you have been keeping an eye on the XRP-to-Bitcoin pair lately, today's daily candle might feel like the moment things started to settle into place.
On April 7, the daily chart showed a clear breakdown below the lower Bollinger Band, which is the strongest bearish confirmation the pair has seen in months. Basically, XRP/BTC just hit its most decisive technical level since the downturn began.
It dropped to 0.00002267 BTC, below the lower Bollinger Band, but then it recovered a bit. This close to the lower band's limit does not happen often. When it does, it usually marks a turning point or the start of a fast slide. Looking at the structure, it seems like this may be a bottom for XRP versus Bitcoin.
Now that the lower Bollinger Band has been touched and recovered, XRP/BTC has officially entered the zone, where the balance should be restored. That may be a 11% move up from current levels, right to the middle band represented by the 20-day moving average.
It is important to note that the daily close above the lower band is still needed to raise a possibility for this scenario. Otherwise, the slide for XRP against BTC may continue.