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$XRP remains one of the most interesting and eye-catching options on the alternative cryptocurrency market. Not even a 500% increase in USD valuation in recent months or rumors of an $XRP ETF make it one of the main market attractions, but rather how the altcoin continues to behave against the crypto market leader, Bitcoin ($BTC).
After skyrocketing 381% at the end of last year and hitting a new multi-year high of 0.000033 $BTC for one $XRP coin, the latter has slowed down against its biggest counterpart which, to be honest, was expected.
However, what can be seen on the $XRP/$BTC chart can either be called a correction or an accumulation, depending on how you feel about these two crypto giants.
Fortunately, technical analysis indicators have no bias toward any asset and can interpret a market picture more clearly and as it is. One of the most popular tools for this - the Bollinger Bands - indicated that $XRP is still strong against Bitcoin.
Such a conclusion was prompted by the fact that, on the daily time frame, $XRP managed to test the middle band, see the buyers' reaction and hold above it. This is a good sign that bulls are interested in buying $XRP against Bitcoin at this point, and what we are likely to see is probably accumulation of the altcoin.
In other words, if $XRP continues to find strong support at these levels, it may see another leg higher against $BTC. Considering that we are looking at the daily time frame, the forecast is more medium term.
Thus, in conclusion, it could be said that as long as $XRP is in the 0.0000247-0.00003 $BTC range, and especially higher than 0.0000273, the bullish bias for it against Bitcoin remains valid.