Surprising Link Between XRP And Crude Oil Revealed By Analyst

Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing Strict editorial policy that focuses on accuracy, relevance, and impartiality Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Este artículo también está disponible en español. Independent market technician Dom (@traderview2) has drawn the crypto community’s eye to an unconventional but increasingly watched ratio: XRP priced in West Texas Intermediate crude. The Link Between XRP And USOIL In a two-hour TradingView screenshot posted on 14 May, the analyst shows the XRP/USOIL pair fading—twice—in the exact same resistance shelf that has capped price action since mid-December. “Last night we tapped the five-month range high again and price rejected perfectly,” he wrote, adding that “it’s amazing how much we are respecting this level as it gives a clear zone bulls need to fully regain for the next impulse higher.” Since December last year, the XRP price has been hammered down six times in the exact same resistance area. On May 13, Dom wrote: “ Could you ask for a cleaner range? This chart should be in a textbook... We know the importance of this range high. If it breaks, the probability $XRP goes to a new ATH goes up drastically. We know what happened right after BTC / USOIL hit it’s ATH 2 weeks ago, I would expect something similar here. Patience, this needs steam to breakout here.” Related Reading That ceiling is circumscribed on Dom’s chart by a charcoal-grey block from roughly 0.0418 to 0.0430. Each of the last two probes into the band—one during Asian trade on 12 May, the second during the New-York session on 14 May—produced sharp downside wicks. Momentum, moreover, is flowing against heavy sell pressure in the spot token. Citing on-chain order-flow analytics, Dom highlighted that “$210 million of XRP has been net-market-sold over the past seven days—despite this, XRP is up twenty percent.” He argues that such divergence implies absorption by professional liquidity providers rather than retail exuberance: “Market makers or whales are likely soaking up aggressive asks through passive limit bids. When that dynamic persists, it usually precedes an explosive upside once sellers exhaust themselves.” Community members quickly asked what a definitive breakout could portend for XRP priced in dollars. One follower, The Standard (@Xrpdemon589), pressed: “Would you say if it breaks it, it will have another parabolic move up breaking ATH?” Dom responded, “If we see a full breakout, historically yes, it’s only time until XRP/USD prints a new high.” Related Reading Crypto commentator Moon Lambo (@MoonLamboio) queried the intellectual basis for linking an energy-based ratio to the standalone token. Dom conceded no fundamental thesis is proven, but stressed the analytical utility: “I really just think it provides another perspective of price action when we peg it to something deeply woven into the economic system. I don’t think there is any specific relationship—rather, it’s useful to see things you wouldn’t otherwise see on the USD pair.” Technically, the map is binary. Dom reiterated that he has “alerts set for a full breakout” above 0.0418–0.0430; any two-hour close in that region would, in his view, constitute decisive range expansion and “give bulls the runway for the next impulse higher.” Should buyers instead relinquish the amber pivot at 0.0394, the door reopens to 0.0378 minor support, with a break there exposing the 0.0357 floor and negating the current series of higher lows. Until either boundary yields, XRP/USOIL remains in its five-month box, but the very act of watching the pair, Dom contends, sharpens traders’ macro lens. “BTC, USOIL, XRP—combining them is just another way to triangulate liquidity,” he wrote. “Sometimes the edge is simply seeing the same market from a slightly different angle.” At press time, XRP traded at $2.46. Featured image created with DALL.E, chart from TradingView.com Source: https://www.newsbtc.com/xrp-news/surprising-link-xrp-crude-oil/