Has the price of XRP reached its lowest point against Bitcoin?

The price of XRP in terms of Bitcoin has reached a three-year low, indicating a possible bottom and a buying opportunity for XRP. According to TradingView data, the XRP/BTC price ratio fell to its lowest point since April 2021. This chart pattern on the monthly chart suggests a strong signal of a XRP/BTC bottom, as stated by Tony Severino, the founder of CoinChartist. However, XRP/USD has been in a downtrend since the beginning of 2024, with a YTD price decrease of over 14% to $0.53, while BTC/USD has risen over 43%. The decline in XRP’s price can be attributed to Ripple’s ongoing lawsuit with the SEC, where they were accused of illegally raising $1.3 billion through the sale of XRP. Ripple has contested the SEC’s request for a $2 billion fine, arguing that it should be limited to $10 million. Despite the subdued price action, XRP could potentially reach a new all-time high by July, according to the pseudonymous crypto analyst Charting Guy. The daily chart shows that XRP’s relative strength index (RSI) indicator is currently at 50, indicating a neutral or fair value price. However, the weekly chart suggests that if the downtrend continues, XRP’s price could fall back to the $0.31 level, which has been a significant support area in the past. This article does not provide investment advice and readers should conduct their own research before making any decisions.