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XRPBTC moved above its 200-week exponential moving average in November 2024, ending a five-year and six-month stretch below the long-term technical level. Market analyst Cryptobilbuwoo0 shared the update alongside a long-term TradingView chart that tracks XRP against Bitcoin on a weekly timeframe, marking a Wyckoff accumulation structure.
The chart and statement appeared on X, where the analyst wrote that time will decide the outcome while noting that XRPBTC now sits at what they described as a starting line.
The analyst stated that XRPBTC fell below the 200-week EMA on April 29, 2019. Since then, price action has stayed under that level for more than five years. The chart shows repeated failed attempts to reclaim the moving average during that period. Each attempt ended with renewed downward or sideways movement.
In November 2024, the chart shows XRPBTC moving back above the 200-week EMA. The analyst marked this move as the first sustained break since 2019.
The shared chart labels a Wyckoff accumulation pattern that stretches across multiple years. It divides the structure into phases marked A through E. Phase A shows the initial slowdown after a long decline, while Phase B displays extended consolidation within a broad trading range.
Phase C includes a spring and test near long-term support; Phase D shows higher lows and tests of resistance. Phase E projects a move toward prior highs.
The chart highlights a long-term support zone labeled as a double bottom, also marking a resistance line near previous highs on the XRPBTC pair. The 200-week EMA runs through the middle of the structure. The analyst noted several interactions with this moving average across the years.
Green check marks on the chart indicate confirmed reactions near support and moving average levels. Red arrows show prior rejection points during earlier phases.
Read More: XRP Price Above $1.50 Could Flip Sentiment as Derivatives Data Shows Cautious Positioning
Alongside the chart, the analyst wrote that XRPBTC remained below the 200-week EMA for five years and six months until November 2024. He added that XRP now stands at what he called the starting line of a massive bull market. The statement appeared without price targets or time estimates.
The post ended with a single line directed at readers, stating that the choice belongs to the market participants—does the long break above the 200-week EMA mark the start of a new cycle?
XRPBTC moved above the 200-week EMA in November 2024 after more than five years below it. A long-term TradingView chart outlines a Wyckoff accumulation structure that spans several phases. This shift marks a key technical change that market participants continue to monitor closely.
