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Ripple's XRP followed the movements of the Bitcoin market leader. Both fell significantly in price until last week's Friday, but have undergone a slight recovery over the weekend.
XRP now exchanges at the key level $ 0.3. The Friday market crash, which brought the Bitcoin market leader to a low of 2018 at around $ 2800, saw the XRP fall to $ 0.285. He has since recovered again over $ 0.3 over the weekend and currently swaps around this point.
With the market declining today, it is likely that XRP will fall and potentially remain below $ 0.3. The 2018 minimum for XRP is about $ 0.25, so a return to bearish movements could bring the XRP price to this level. The momentum is on the side of the sellers, both with the MACD and with the RSI down on the downside.
The market leader Bitcoin, which represents more than 55% of the entire cryptocurrency market capitalization, has registered similar movements. A recovery over the weekend brought the price briefly above $ 3600. The price has started to decline since then and this has probably caused a low level of training in both Bitcoin and XRP.
$ 3000 is the next key level to monitor Bitcoin, and a decline at this level could bring the entire capital market cap cryptocurrency below $ 100 billion. A decline below one of these could trigger a further sell-off on the market.
Key Takeaways:
- Bitcoin and XRP were recovered over the weekend after a bearish week, but have since returned to depreciation.
- The recovery over the weekend was probably a lower formation, and the subsequent significant downtrend could result in the formation of new lows of 2018.
- The key level to monitor XRP is $ 0.25 and the key level to monitor Bitcoin is $ 3000. A decline at these levels would likely lead to the entire cryptocurrency market falling below $ 100 billion and this could trigger a strong sellout.
| NOTE: Investing or negotiating digital assets, such as those present here, is extremely speculative and involves considerable risks. This analysis should not be considered an investment advice, use it for information purposes only. The historical performance of the assets discussed is not indicative of future results. Statements, analyzes and information on blokt and associated or associated sites do not necessarily correspond to the opinion of blokt. This analysis should not be interpreted as advice for purchase, sale or storage and should not be taken as approval or recommendation of a particular asset. |
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