XRP currently seems to be in a danger zone, although Bitcoin is going pretty well.
A Brief Market Overview
A couple of days before, on August 14th, the premier cryptocurrency Bitcoin broke above $25k, for the first time in over 2 months. The last time Bitcoin had traded above $25k was on June 13th.
The next day, on August 15th, Bitcoin fell to $23.7k from the high of $25.2k within hours. Though it may seem a bit off, but actually it is not. As higher highs and lower lows often represent the market’s bullish trajectory.
Observing with a long-term perspective, it is clear that Bitcoin is gaining. In the past 30-days period the coin has gained by 15.5%, as the average price has remained above $23k.
Now, currently trading just above $24k, Bitcoin is up 3.4% during the week. However, the coin’s performance in the past 24-hours has not been much good as it is down 0.16% in the meantime. Thankfully, it hasn’t had much effect on the altcoins yet. As most of the mainstream altcoins are green at the moment. Particularly, Ripple’s XRP currently trading at $0.376 is up 2% in the day.
XRP Price Analysis
Among the top 10, Ripple’s XRP has been the worst performing altcoin in the past week, it has only gained value by 2%.
In the past 30-days XRP has continuously traded between $0.30 and $0.40. Although the coin gained value by 12.8%, the average price has remained $0.368.
Despite the market’s bullish trajectory, XRP has failed to capitalize on $0.40. It is notable that XRP had reached $0.40 on June 30th, but for a very brief period.
The altcoin is currently in a danger zone. As, if the Bitcoin goes downwards, XRP may lose the support at $0.36, leading to further losses. While a breach below $0.36 could take the coin to $0.30, a break above $0.40 would lead the coin to approach $0.50. It is, however, tied strongly with Bitcoin’s behaviour.
A Huge Sum of XRP Tokens Transferred During the Past 24-hours, as The Coin Seems Stuck at $0.41
With a Latest Update, The Ripple Achieves a Major UNL Decentralization Milestone
Best Fantom Wallets 2023 – Store Your FTM Coins with Confidence
XRP market capitalization surpasses $20 billion amid anticipation for SEC verdict on Ripple lawsuit
Aptos Outshines Market Giants with 248% Price Increase in 2023
Recent Press Release
5 Crypto Platforms That Pay You To Enhance Your Crypto Knowledge
The cryptocurrency market is growing at breakneck speed and so is the demand for knowledgeable crypto enthusiasts. With cryptocurrencies being...
The Beginners Guide to Bitcoin Buyer : What You Need to
Bitcoin is a decentralized digital currency. It is a form of digital asset that can be exchanged between individuals in...
Bitcoin and AI: 4 Benefits that Will Change the Economic World
There are essentially two key technological shifts that you just cannot overlook. The foremost is the renaissance of AI techniques,...
Listing Down the Top 5 Benefits of Trading With AI
“What fire was to the cavemen, AI is to commerce.” That is how one business stakeholder characterized how a technological...
Crucial Trading: Pool Of Luxurious Floor Coverings
David and Jannet Green from London took the foundation of Crucial Trading in 1986, a house of quality full carpets...