Ripple vs Ethereum: XRP Nosedives, ETH Ranges Below Key Support Levels
Yesterday happened to be an unpleasant day for BTC (fell below $12000) and many other altcoins as they kept trading in a bearish manner. The price action has put a notable impact over the crypto market and due to that major crypto coins, XRP and ETH appear severely and negatively affected.
The recent price slump has caused XRP to tumble even below $0.33. The coin has shown a notable price decline with a sharp fall. Ethereum has also gone through a similar price scenario and is currently well below $280, which was above $300 till 10th July.
Current Statistics:
|
Statistics |
Ripple (XRP) | Ethereum (ETH) |
|
Price (USD) 06:27:47 UTC |
$0.3266 | $270.49 |
|
Market Capitalization |
$13,892,154,798 |
$28,918,889,547 |
| 24h Volume | $1,904,310,372 |
$9,065,989,980 |
|
Circulating Supply |
42,566,596,173 XRP | 106,864,268 ETH |
| Return on Investment (ROI) | 5,456.21% |
> 9000% |
XRP/ETH Price Chart
Comparison:
Yesterday morning price actions for both the coins were bearish as both the coins saw sharp price falls. Here, XRP dropped to 0.3231 from its price above $0.36. Meanwhile, ETH had hit bottom at $266.26 from its price above $285. After a few corrections, XRP again faced a dip even below $0.32 and tested the support level near $0.31. Ethereum also saw a plunge at $263.21.
After such price turbulence, ETH and XRP are struggling to strike a surge. Though, it is to be seen how many hurdles are yet in the way of their price recovery.
Conclusion:
If XRP sees a further price drop, it will see key support price at $0.2982 and $0.2736, while its possible resistance can be at $0.3550 and $0.3796. Ethereum is likely to see resistance at $283.78 and $298.87, and major support levels at $259.85 and $251.01.
