Price Analysis

Ripple vs Ethereum: XRP and ETH Rebounds Slowly, Currently Faces Resistance

The recent price pullback in Bitcoin had left a larger part of the crypto market severely wounded especially, XRP. As BTC price came down to $10,000 from its price above $13,000, XRP rapidly lost its price gains in just a week.

This had caused XRP to trade as low as $0.30 and today the coin has started to move upwards and make recovery. Meanwhile, Ethereum had also shed quite a bit of its price, as it was trading above $300 a week ago and now the price is even below $230, proving overall bearishness. 

Current Statistics:

Statistics

Ripple (XRP)Ethereum (ETH)

Price (USD)

06:57:35 UTC

$0.3126$228.21
Market Capitalization$13,415,830,596

$24,487,194,985

24h Volume

$1,292,880,507

$7,605,181,899

Circulating Supply

42,566,596,173 XRP

106,918,777 ETH

Return on Investment (RoI)5,265.70%

7,988.17%

XRP/ETH Price Chart

Ripple/Ethereum Price Chart
Ripple/Ethereum Price Chart

Yesterday morning price actions of both the coins were so bearish that it caused XRP to see the bottom at $0.2954 and ETH to reach at $203.65. After that, both the coins are on the way of price recovery, though, with quite a slow pace and are expected to meet a few price hurdles as they are much below their key support levels.

XRP had surged to $0.3219 with a 9.09% increase and then pulled back to the price range of $0.31. Meanwhile, after an upward correction, ETH has maintained its price above $220 after ranging between $234 to $230 for a while.

Conclusion:

XRP may see resistance at $0.3251 and $0.335 if it continues to trade upwards, while its possible support levels can be at $0.302 and $0.2880. Ethereum’s immediate resistance can be at $231.53 and, support levels at $215.1 and $200.43.

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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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