Price Analysis

Ripple vs Ethereum: ETH Struggles to Stay Above $200, XRP Faces New Lows

The crypto market still seems to be in the clutches of bears as Bitcoin and leading altcoins like XRP and ETH are still resuming to trade downwards. In the last week, both the altcoins are witnessing quite turbulent prices where ETH has traded much below its major support levels such as $300 and $250. In fact today, the coin is even approaching lows below $200.

Yesterday, XRP gave some positive signs when it maintained stability above $0.31 for quite a while. Although later, the price saw a major drop and now the coin is struggling for recovery.

Current Statistics:

Statistics

Ripple (XRP)Ethereum (ETH)

Price (USD)

06:41:25 UTC

$0.2993$202.35
Market Capitalization$12,654,085,071

$21,610,809,194

24h Volume

$1,557,271,012 $9,863,106,665
Circulating Supply42,566,596,173 XRP

106,932,322 ETH

Return on Investment (ROI)

4,961.04%

7,037.19%

XRP/ETH Price Chart

Ripple/Ethereum Price Chart
Ripple/Ethereum Price Chart

Yesterday, XRP was in an attempt to initiate a price recovery as the coin had maintained its price above $0.31 for quite a while and then dropped sharply breaking major support levels near $0.30 and even $0.29. Here, it touched the 3-month low price near $0.2842 manifesting a decline of 8.46%. The coin then corrected up to $0.3103 but couldn’t gain further and pulled back around $0.29.

Meanwhile, Ethereum also saw a price plunge below $220, it even went below $200 and found support at $192.35. ETH has not yet struck a price rebound as the coin went below $200 a few more times and now the coin is struggling to stay above $200. In the last 24 hours, ETH has manifested a decline of 11.92%.

Conclusion:

If XRP manages to trade above $0.31, it may see immediate resistance at $0.3142 and $0.3317, while a drop can take it to the support levels of $0.2852 and $0.2737. Also, ETH may see further resistance at $223.34 and $247.49 and support levels at $186.21 and $173.23.

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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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