Price Analysis

Both Bitcoin and Ripple are Declining; Turnaround Seems Unlikely

eToro
  • Bitcoin loses 2.03%, and Ripple also follows the trend by cutting 1.10% in a day.
  • The medium-term outlook of the coins seems bullish.

Bitcoin has been down by 2.03% in the last 24 hours, and this fall has finally put a halt on all the hopes for a recovery anytime soon. Following the market trend, Ripple has also lost 1.10% in this period. However, as per expert prediction and historical data, both the coins are likely to have decent growth before this year ends.

Bitcoin vs. Ripple Price Analysis and Forecast

Bitcoin opened the day near $10,500 and at 00:36 UTC the coin started strengthening. Over the next 11 hours and 43 minutes, BTC gained $360 to reach $10,928.78. This was followed by a slight weakening of position by 0.35% and it made the Bitcoin price to be placed at $10,890.63 at 16:56 UTC. It was followed by a steep fall of 6.08% in the next 3 hours and 18 minutes and this fall took the BTC to the lowest point of the day at $10,229. Towards the closing, the coin started taking a plunge, and by 02:28 UTC, the Bitcoin gained $146 to touch $10,377.83.

eToro Crypto

Similarly, Ripple also started the day with a hike of 1.45% and this hike between 00:23 UTC and 12:29 UTC, added $0.0037 to the XRP coin. After a few hours of volatile fluctuations, Ripple faced significant fall of 4.23%, which placed the value at $0.2486 at 20:12. This made the lowest moment of the XRP coin for the day. It was followed by a hike of 1.40%, and it helped the Ripple to roam around $0.2521.

Bitcoin and Ripple Price
Bitcoin and Ripple Chart

Both the coins are now on a negative price movement, and this is the same across almost all the major coins. However, the two coins may have a bullish run before 2020 sets in. Following are the probable resistance and support levels of the coins.

Bitcoin (BTC) Ripple (XRP)
1st Resistance $10737.27 $0.257513
2nd Resistance $11121.24 $0.262686
3rd Resistance $11343.73 $0.26604
1st Support $10130.81 $0.248986
2nd Support $9908.32 $0.245632
3rd Support $9524.35 $0.240459

Mehak Punjabi

Mehak Punjabi is a post graduate in MBA with specialization in Finance and has joined CryptonewsZ with a skill building view in the world of cryptocurrency and blockchain. She is dynamic and a quick learner with a hold on financial analysis.

Related Articles

Back to top button