Connect with us

Ripple and XRP News

Ripple’s XRP struggles to reach $0.35 as the Bitcoin trades fractionally above $20k

Published

 

on

During the past few weeks crypto crashed to historical lows. The premier cryptocurrency Bitcoin hit the low of $17.6k, causing other coins to hit lows as well. Bitcoin entered June with a price level of $31k and crashed to $17.6k on June 18, nearly a 40% decrease. At the price level of $20.8k Bitcoin is down 34% during the month.

Yesterday Bitcoin did make a slight recovery, as the coin gained value by 8.3%. Now this is significant as it is the largest single day gain since February 28.

Notably, during the year so far Bitcoin has lost its value by 55%. Currently, the market is surrounded by extreme uncertainty.

XRP Price Analysis

Like Bitcoin, XRP also hit the bottom on June 17. As the coin reached the low of $0.28. During the month XRP has lost its value by 22%. Which is rather impressive, compared to Bitcoin’s 34% decrease. However, during the year, till date, XRP has lost value by 60%. 5 percentage points more than Bitcoin.

Now at the current price of $0.32, XRP is getting support from $0.30 and $0.28 price mark. Whereas the coin has a resistance at $0.34. Coin’s RSI-Relative Strength index is currently near 50.

Now for XRP to make gains, it must first break above $0.35. Despite a cloudy market environment there are a few signals that the market may make a recovery during the next week. According to a recent tweet from ‘Bitcoin Archive’ the miners, after a while, have finally stopped selling as the accumulation has restarted.


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.

Click to comment

Leave a Reply

Your email address will not be published.



Recent Press Release



Ledger Nano X - The secure hardware wallet