Ripple vs Bitcoin: XRP Recovers after Turbulence, BTC Approaches Key Support at $10k

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In the last 24 hours, Bitcoin has dropped heavily from its price above $12k to its major support level near $10k. In the previous week, BTC had surged to its 52 Week High price at $13k and now the leading crypto coin is holding above $10000.

Meanwhile, Ripple also faced price turbulence yesterday, but today it has started to rebound. Yesterday’s bearish impact had caused it to hit bottom at $0.39 twice. 

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Current Statistics:

Statistics

Ripple (XRP) Bitcoin (BTC)

Price (USD)

08:26:55 UTC

$0.4051 $10891.99
Market Capitalization $17,598,194,506

$196,004,990,210

24h Volume

$1,824,862,468 $28,598,256,970
Circulating Supply 42,566,596,173 XRP

17,791,025 BTC

Return on Investment (ROI)

6,938.45%

8,042.70%

XRP/BTC Price Chart:

Ripple/Bitcoin Price Chart

Comparison:

Tracing a bearish trendline, yesterday Bitcoin tumbled below $11000 breaking major support levels. It even tested the support level at $10,799.01 and then corrected upwards. Bitcoin since then is recovering its price, though is yet to get stability above $11000.

Meanwhile, XRP also faced a gradual price drop yesterday, in which it went as low as $0.39 twice forming a double bottom. However, today, XRP has started to move upwards and is currently trading above $0.40 after surging as high as $0.4188.

Conclusion:

XRP is currently facing resistance above $0.40. If it manages to surge further clearing the price barrier, it may see resistance at $0.4182 and $0.44. XRP bulls need to push the price above $0.42 with stability, in order to surge higher. Though a price dip below 0.39 in XRP can take it to the support levels of $0.3855 and $0.3746.

BTC price, which is currently trading on a bearish note, can see support levels at $10,351.32 and $9,885.48. It may face resistance at $11,730.69 and $12,644.22 if it goes for an uptrend.

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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