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Besides a Slight Recovery, Ripple’s Native XRP Outperforms Bitcoin by a Fair Margin

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Yet again Ripple’s native XRP has outperformed the premier cryptocurrency Bitcoin, while most others are just following the trend.

A Brief Market Overview:

Last week has been quite an eventful one for crypto.  In the past 7 days between November 8 to November 14, world’s largest cryptocurrency by market cap Bitcoin lost its value by 19.3%.  While the coin traded above $20k on November 8th, it crashed down to the low of $15.6k on November 9th, a 22.8% loss within hours.

The next day Bitcoin gained by 10.7% and the next 3 days were red as well. In the past 2 days, however, the coin remained rather stable. Currently trading at $16.7k, Bitcoin is down 14.9% over the week and up 0.05% in the day.

XRP Price Analysis:

As a consequence of the market environment all the major cryptocurrencies remained red in the meantime. Contrary to the expectation, Ripple’s native XRP outperformed most other major cryptocurrencies. In the past 24-hours, XRP has gained value by 10%. Notably, XRP has emerged as the top gainer among the top 30 coins.

Though XRP, similar to Bitcoin, crashed by 17% over the week, it has mainly made a recovery in the past 7-days. XRP hit the low of $0.34 yesterday only to regain $0.38 within hours.

 

As for the technicals, Bitcoin is below $0.40 and the 100, 4 hours, simple moving average. Further, there is a major bearish trend line forming with resistance near $0.380 on the 4-hours chart of the XRP.

Now, while $0.37 is serving as a key support, $0.40 may emerge as a key resistance. Given the market stabilizes a bit, and XRP surpasses $0.40 the next mark to watch out for will be $0.43.


Gracie Perez is a part of RippleCoinNews team since we started. she holds a degree in Computer Sciences. From 2017, She has pivoted her career towards blockchain technology, with principal interest in writing Cryptocurrency news and different guides. She is also working with different online media outlets.

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