Price Analysis

Ripple vs Bitcoin: BTC Rallies Above $8100, XRP Holds Price Position at $0.40

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Bitcoin is surging high with quite a bullish trend. BTC saw a remarkable price hike on 12th June when it reached over 8000 USD. BTC has maintained its price range above 8100 USD since then. In fact, since yesterday, it is trading at a price over 8200 USD.

However, the same bullish trend is not followed by XRP price. Yesterday, after reaching 0.41 USD Price point, it had been hovering between 0.40 USD to 0.41 USD. Today, Ripple is trading at 0.40 USD, which it is struggling to exceed.

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Current Statistics:

Statistics

Ripple (XRP) Bitcoin (BTC)

Price (USD)

08:54:03 UTC

0.40 USD

8314.41 USD

Market Capitalization

17,004,889,121 USD

147,426,416,802 USD

24h Volume

1,200,592,976 USD 19,093,296,891 USD
Circulating Supply 42,501,950,124 XRP

17,758,087 BTC

Return on Investment (ROI) 6,711.50%

6,035.94%

XRP/BTC Price Chart:

Ripple/Bitcoin Price Chart

Comparison:

On 9th June, XRP dropped from 0.41 USD to 0.37 USD breaking its support level at 0.40 USD. Meanwhile, Bitcoin has seen gradual price plunges, though not as sharp as XRP’s price drop. Here, Both the crypto coins took a sharp surge where XRP price recovered to 0.40 USD. Again XRP and BTC saw a gradual price drop and rebound, tracing a downward curve.

After that, BTC sharply surged to break the price point of 8000 USD, and since then the leading crypto coin has not seen its price going below 8100 USD. Meanwhile, XRP had also surged to 0.41 USD but it was later pulled back to 0.40 USD.

XRP has also traced a head and shoulder pattern in its price path indicating a price drop.

Conclusion:

Bitcoin is bullish enough to surge higher. If BTC continues with the uptrend, it may see initial resistance at 8330.57 USD and further at 8430.24 USD and 8550.72 USD. Though if it sees a price fall, it will witness support levels at 8110.42 USD and 7989.95 USD.

Meanwhile, XRP is holding at 0.40 USD. If it breaks the major support level of 0.40 USD, it will see support level at 0.39 USD. And if the XRP price takes a surge, which is more desirable, it will face resistance at 0.41 USD.

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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