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XRP Falls to $0.33, As the Bitcoin Trades Below $17k




Ripple’s native XRP dips down to $0.34 as the premier cryptocurrency Bitcoin falls to $16k.

A Brief Market Overview

On December 14th Bitcoin surpassed the $18k mark for the first time since November 10th. Following that the premier cryptocurrency is seeing a downtrend. A day after hitting $18k, the coin dipped down to $16k. Currently trading at $16.7k, Bitcoin is down 1.3% over the week, while the price during the day remains unchanged.

As a consequence of Bitcoin’s bearish trend, literally all the crypto coins among the top 10 list are red. Over the past 7-days period,ADA, DOGE, BNB, MATIC, XRP and ETH have lost value by 14%, 13%, 12.6%, 10.8%, 8.5%, and 5.5% respectively.

XRP Price Analysis

Ripple’s native has emerged as the biggest loser during the day, as the coin has gone by 2.69% in the meantime. Currently trading at $0.34, XRP saw a significant decline after December 14th. Similar to Bitcoin, the coin dipped below $0.35 on December 16th.

Hours ago XRP hit $0.33, the lowest level since November 14th. Besides having breached $0.34 once, the coin still has a support at the price mark. If XRP dipped down below to $0.33 again, the next support will be at $0.32. In the most chaotic scenario if the Bitcoin crashes below $15k, XRP would certainly be below $0.30.

Further, on the upper side, XRP has a resistance at $0.35 and $0.37. Most likely, given the Bitcoin regains $17k, XRP would then trade above $0.37.

As for the technicals, the coin’s 4-hours MACD is currently gaining momentum in the bearish zone as the RSI, 4-hours, remains below 50.

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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