Price Analysis

Ripple vs Bitcoin: BTC All Set to Cross $8000 Again, XRP Still Appears Bearish

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Today, a major update has emerged regarding the leading cryptocurrency, Bitcoin. India has been known to have a stringent approach toward the crypto market. Reportedly, Anybody in India dealing in cryptocurrencies will be sent to jail for 10 years, according to the proposed “Banning of Cryptocurrency and Regulation of Official Digital Currency Bill 2019″ draft. The bill can impact the adoption of Bitcoin to quite a level.

Bitcoin price can impact a majority of crypto prices being the most influential crypto coin. Let’s have a look at how the XRP price resonates with the price trend of Bitcoin.

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Current Statistics:

Statistics

Ripple (XRP) Bitcoin (BTC)

Price (USD)

11:26:01 UTC

0.42 USD 7984.54 USD

Market Capitalization

17,749,467,861 USD

142,187,083,903 USD

24h Volume 1,420,893,915 USD

17,318,453,322 USD

Circulating Supply

42,238,947,941 XRP 17,747,075 BTC
Return on Investment (RoI) 7,054.02%

5,821.55%

Ripple and Bitcoin Price Chart:

Ripple/Bitcoin Price Chart

XRP and BTC Price Comparison:

Bitcoin, which was struggling since long to cross the 8000 USD price mark, yesterday reached 8144.09 USD. At the same time, XRP also surged to 0.43 USD. Here, BTC and XRP performed a price rise of 5.89% and 4.33% respectively. Bitcoin maintained its price level above 8000 USD for more than 9 hours, within the highlighted area.

However, BTC has gradually dropped from there and is currently trading below 8000 USD. Meanwhile, XRP has faced a sharp pullback and currently seems bearish.

Conclusion:

XRP is struggling to cross the 0.42 USD price level while BTC is just below 8000 USD price mark. It is to be seen when both the leading cryptocurrencies cross the mentioned price points.

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.

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