Price Analysis

Ripple vs Bitcoin: XRP and BTC Heavily Breaks Below their Support Levels

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Bulls in the crypto market seem to be at rest today, as the leading cryptocurrencies are witnessing heavy price losses. Since the last couple of weeks, Bitcoin prices were growing by leaps and bounds. Yesterday, Bitcoin surged above $13k price mark which was ranging around $9000 a week ago. 

However, since yesterday, BTC price is witnessing turbulence at it has traded below $13000, and today, Bitcoin is even below $12000. Resonating with the same, XRP is also going through a bearish zone, as it is currently below major support price levels. 

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Current Statistics:

Statistics

Ripple (XRP) Bitcoin (BTC)

Price (USD)

09:53:35 UTC

$0.4212 $11735.00

Market Capitalization

$20,356,041,361 $211,142,443,681
24h Volume $2,688,927,927

$43,303,743,512

Circulating Supply 42,566,596,173 XRP

17,783,300 BTC

Return on Investment (RoI)

8,041.46%

8,675.37%

XRP/BTC Price Chart:

Ripple/Bitcoin Price Chart

Comparison:

After yesterday’s surge to $13,796.49, BTC price has sharply dropped to $11567.25. Striking a rebound, it had its closing price at $13,016.23. Today, initially BTC had maintained its price above $13000 before having a plunge at $12446.00. It has further tumbled to $11735, tracing a bearish trend line.

Meanwhile, XRP has also seen a major price decrease. Yesterday, it went as high as $0.49 and sharply dropped to $0.44, breaking major support near $0.45. Ripple had further bottomed at $0.41, breaking a critical support level at $0.42. XRP then corrected upwards and is trading above $0.42. In the last 24 hours, it has decreased to 10.47%.

Conclusion:

If ripple takes a strong price recovery it may see one of the resistance levels at $0.4792. BTC price may see support levels at $10,815.22 and $9,874.83. 

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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