Price Analysis

Ethereum vs. Ripple: ETH and XRP Test Investors’ Patience with Sluggish Recovery

  • XRP and ETH both currently rebounding slowly
  • Ripple meets hurdles above $0.27; Ethereum faces barriers near $185
  • Ethereum has managed to gain more traction compared to Ripple
  • XRP traces a death cross while ETH is heading for a bullish zone

Yesterday’s price actions of Ethereum was quite bearish as the coin saw a drop of more than 2% and couldn’t tap a strong recovery either. However, just before closing the day, it started an upward movement, which is intact as of now.

ETH/USD

Yesterday’s opening price of the 2nd most prominent crypto coin was at $186.15, and it escalated a bit from there to $189.97. Facing rejection above it, ETH’s price dropped steadily from there to find support at $184.80, with a decline of 2.72%. The coin climbed above $185 and remained there for quite a while except for a close near $186.99. Moreover, Ethereum managed to initiate a rebound before closing the day.

Ethereum
Ethereum Price Chart by TradingView

Ethereum price is continuing the surge today, and it is fighting resistance above $185 currently. The pitchfork sheds light over the upcoming price trend if the uptrend sustains. It also notes that a break below $185 can invite bears. At 05:50:29 UTC, Ethereum is trading at $185.97.

ETH’s SMA lines are heading towards the bullish phase as the short term SMA line is about to move above the long term SMA line. However, the MACD chart for the coin is about to trace a bearish crossover. RSI indicator is in the positive zone as it is above 50. The coin is likely to see resistance at $188.86, $192.22, and $194.11 while support levels at $183.61, $181.72, and $178.36.

XRP/USD

Ripple seems to be lagging back as compared to the rest of the crypto market as it has been range-bound below $0.30 for long. At present, the coin is struggling to climb above $0.28. yesterday’s price fall from $0.2806 to $0.2701 has played a notable role behind today’s sluggish recovery. Considering the pitchfork, the XRP coin has recently breached the uptrend as it traded below $0.2772. Starting the rebound again, the coin is trading at $0.2736 at 05:29:02 UTC.

Ripple
Ripple Price Chart by TradingView

Ripple’s SMA lines have just traced a ‘death-cross’ indicating a bearish price move. However, the MACD chart and the RSI indicators appear a bit bullish as the MACD line is above the signal line, and RSI is at 56, indicating a stable momentum. Ripple is likely to see resistance at $0.2805, $0.2859, and $0.2902 and support levels at $0.2708, $0.2665 and $0.2611.

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Ruti Vora

Ruti regularly contributes in-depth news articles for leading cryptocurrencies. She contributes technical chart-based price updates and analysis pieces on world's leading digital currencies. She holds graduate degree in journalism.
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