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