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Price Analysis

Ripple vs Ethereum: While ETH Moves Down Towards $300, XRP is Already Below its Key Support

Bitcoin’s recent Bull Run above $12k had created enough stir in the crypto market causing a majority of the cryptocurrencies to trade with a bullish impact. Due to that, XRP also could strike a price recovery as it had reached above $0.40 yesterday. However, the coin has again a tap on the bearish vibe and is currently trading even below $0.40.

On the other hand, Ethereum price has manifested a bit of stability in its price as it has kept its price position intact, above $300 from past 2 days. However, it has traced a bearish trend line over a day after mounting as high as $318 and then moving below $310.

Current Statistics:

Statistics

Ripple (XRP)Ethereum (ETH)

Price (USD)

06:50:54 UTC

$0.3943

$307.46

Market Capitalization$16,765,000,268

$33,063,666,613

24h Volume

$1,412,857,083$10,377,760,427
Circulating Supply42,566,596,173 XRP

106,837,043 ETH

Return on Investment (ROI)

6,605.21%

> 9000%

XRP/ETH Price Chart

Ripple/Ethereum Price Chart

Comparison:

XRP, after initially maintaining its price range above $0.40, took a sharp fall at $0.3943 with a decrease of 2.19%. The coin struggled to move above $0.40 but after a bit of price turbulence, the price trend shifted down near $0.39. The coin since then has not touched $0.40 price mark. Over the last 24 hours, XRP has shown a decrease of 1.72%. 

Meanwhile, ETH has also witnessed a gradual fall after hitting its Yesterday’s high price mark above $315. However, its key support level near $300 is untouched as yet. In the last 24 hours, ETH has declined by 1.87%.

Conclusion:

If Ripple takes an uptrend, it may see major resistance at $0.4033 and $0.4126, while a further price drop can take it to support levels near $0.388 and $0.382. Also, ETH can see resistance at $316.3 and $323.73, and support levels at $303.37 and $297.87.

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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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