Price Analysis

Ethereum vs. Ripple: ETH and XRP Shift to Bearish Trend

eToro

Till yesterday, both the leading cryptocurrencies, Ethereum and Ripple were surging high as their prices were increasing with leaps and bounds. However, in the last 24 hours, the ETH and XRP, both have seen plunges in their price path.

ETH was bullish enough to hit the price point as high as 287.40 USD since January. Now, since a day, it seems that the coin is awaiting a rebound in its price. A similar kind of price path is followed by Ripple (XRP), as it has shown a strong decline in its price in the last 24 hours.

eToro Crypto

ETH and XRP – Current Statistics:

Statistics

Ethereum (ETH) Ripple (XRP)

Price (USD)

06:48:42-UTC

253.54 USD 0.42 USD

Market Capitalization

27,073,050,430 USD

17,726,264,377 USD

24h Volume

13,201,667,420 USD

3,277,088,634 USD

Circulating Supply

106,290,855 ETH

42,116,677,673 XRP

Return on Investment (RoI)

8,895.11%

7,065.41%

There is a notable difference between prices of ETH and XRP, however, the recent price drop in both the currencies, especially in ETH has reduced the gap between RoIs of the crypto coins.

ETH/XRP Price Chart:

Ethereum-Ripple price chart May 31

As shown in the chart, ETH’s price was ranging stably between 280 USD to 290 USD without any price fluctuations. Meanwhile, XRP was ranging between 0.46 USD to 0.48 USD. Later, Ethereum dropped to 265.62 USD breaking its support level of 275.00 USD. Also, XRP fell to the price point of 0.43 USD tracing a similar pattern as highlighted in the chart. Both the currencies then faced sharp price drops, when ETH reached 235.44 USD and XRP at 0.40 USD. In the last 24 hours, ETH has decreased to 5.70% and XRP has decreased to 4.54%.

Conclusion:

Both the cryptocurrencies are expected to rebound soon and recover the price. Apparently, the price drop is for a short while, ERP and ETH will make a comeback with higher price spikes.

Ruti Vora

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

Related Articles

Back to top button