XRP's Decline Against Bitcoin May Be Just the Beginning

XRP's recent performance against Bitcoin has been underwhelming, but according to ChartNerd, it's not all doom and gloom.

The analyst points out that XRP has broken down against BTC, with its price sitting at approximately 0.00001765 BTC, below the support level it lost in June.

However, ChartNerd remains optimistic about XRP's prospects, stating that a rally into prior support is possible following a drop to the lower $1.20s.

The analyst warns that continued XRP weakness would cause it to 'fall like a knife through butter as capital flights to safety.'

ChartNerd identifies a demand zone at approximately 0.00000700 BTC, which has historically triggered major outperformance periods and significant recoveries in XRP's value.