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Price Analysis

Ripple vs Bitcoin: BTC Steadily Remains Above $9100; While XRP Continues its Bullish Rebound

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The recent Bull Run of Bitcoin has transformed the crypto market putting a notable impact over other major cryptocurrencies. Over the last weekend, Bitcoin had witnessed a surge in which its price reached over $9000 from its previous price range around $8800. Now, Bitcoin believers are expecting the BTC price to break through the psychological price barrier of $10,000.

The same BTC price hike has propelled XRP price trend to take a bullish approach. XRP, which kept hovering between $0.40 to $0.39 broke the major resistance level at $0.41 and saw some impressive price surge over the last couple of days.

Current Statistics:

Statistics

Ripple (XRP)Bitcoin (BTC)

Price (USD)

09:17:22 UTC

$0.4336$9153.98

Market Capitalization

$18,411,591,411

$162,661,797,286

24h Volume

$1,652,850,012

$16,412,600,861

Circulating Supply42,501,950,124 XRP

17,767,450 BTC

Return on Investment (ROI)7,274.97%

6,666.48%

XRP/BTC Price Chart:

Ripple/Bitcoin Price Chart

On 14th June, XRP and BTC had their opening prices at $0.4022 and $8237.53, respectively. Both the leading cryptos witnessed gradual price growth till 16th June. The 5-day chart shows how BTC price saw massive price rally crossing resistance at $8800 and then took a sharp spike just near to its 52-Week-High price point at $9354.59.

After a downward correction below $9000, it took a fresh price increase and since then, BTC price has not traded below $9000, except for yesterday when it tested the major support levels at $8960.00 and $8984.25. Though Bitcoin has corrected upwards from there and is currently trading at $9153.98.

XRP also witnessed its much-awaited price boost on 16th June, when it surged from $0.4186 to $0.4405 with an increase of 5.23%. However, after a pullback, XRP closed the week with its price at $0.4275. Continuing the bullish impact, it sharply surged on 17th June, hitting its 7-day high price mark at $0.4594. Yesterday, XRP price has seen a bit of turbulence causing it to tumble at its 24-hour low price of $0.41. It had an upward price correction after which it has been holding its critical support level of $0.42.

Conclusion:

Currently, both the cryptocurrencies appear moderately bullish. If XRP continues its uptrend it may see resistance at $0.4417 and $0.4676. Though a price fall in XRP may take it to the support prices at $0.4041 and $0.393.

Also, BTC can see initial resistance at $9,285.12 and $9,488.48, if it taps on a bullish trend. However, it may touch support levels at $8,941.65 and $8,801.54, if it takes a price plunge.

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Ruti Vora

Ruti has recently joined CryptonewsZ as a writer and has been writing on other cryptocurrency sites as well. Having a background of tech field makes her versatile with a keen interest in literature. You will find her surrounded by books and music when she is not on work. You can also contact her on Linkedin or Facebook.
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