Price Analysis

Ripple vs Ethereum: XRP on its Way to Price Recovery, While ETH to Hit $255 Price Mark

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Ethereum, which is ranked at the 2nd position on Coinmarketcap has shown a steady price shift with an increase over last one month. However, in the last one week, the price has seen many ups and downs.

Meanwhile, Ripple has gone through a roller coaster kind of ride in the last few days. 5 days ago, it was standing at 0.44 USD, which then reached as high as 0.46 USD. Since the 3rd of June, XRP has shown a price decline.

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Current Statistics:

Statistics

Ripple (XRP) Ethereum (ETH)

Price (USD)

07:14:32 UTC

0.42 USD 249.32 USD

Market Capitalization

17,723,556,923 USD

26,512,185,382 USD
24h Volume 1,497,749,270 USD

7,526,934,394 USD

Circulating Supply

42,238,947,941 XRP 106,400,985 ETH
Return on Investment (RoI) 7,043.58%

8,699.64%

XRP and ETH Price Chart:

XRP vs ETH Price Chart

 

Comparison:

With the sharp price drop on 3rd June, XRP went as low as 0.39 USD and ETH bottomed at 238.60 USD. Here, XRP had decreased to 10.67% while ETH saw a decline of 7.49%, in only 1 hour and 25 minutes. Then, both the cryptos maintained a bearish trend where XRP traced a few plunges below 0.40 USD and ETH traded below 249 USD price point.

Having a short term bullish moment, XRP surged to 0.43 USD on 6th June followed by a pullback. Though, at the time, ETH had no such price hike. Since then, both the currencies are fighting with the bearish impact and it is only yesterday when both the coin surged where XRP reached 0.43 USD again, and ETH hit 254.17 USD price point. In the last 5 days, ETH and XRP have decreased to 6.63% and 4.54% respectively.

Conclusion:

We can predict that XRP may take a while to come up with a surge, though it is already on its way to the price recovery. Additionally, as Ethereum seems all set to cross the 25o USD price mark again, it is likely to touch 255 USD within a week or two if it maintains its upward drift. If bears come to affect the Ethereum price, it may see support at 244 USD price level.

Ruti Vora

Ruti regularly contributes in-depth news articles for leading cryptocurrencies. She contributes technical chart-based price updates and analysis pieces on the world's leading digital currencies.

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