Ripple's XRP regained its position as a second cryptocurrency by market capitalization after having passed the Ethereum cryptocurrency ether for the second time in the last two months.
XRP outperformed Ethereum for the first time in mid-November among the downward swings in the market where XRP retained its best value of Ethereum.
An outperformance of Ethereum that began in mid-December led Ethereum to regain its position.
However, the drop in the previous 24 hours led XRP to the second position with XRP outperforming Ethereum in this decline.
The XRP has declined in value around 6% in the last 24 hours, but Ethereum has declined by more than 12% over the same period.
All this took place in the light of a breaking of the descending triangle that occurs in XRP.
The XRP was forming a descending triangle which is a bearish trend continuation model.
After numerous tests, as indicated by the arrows on the 4 hour chart above, XRP finally seemed to go up in the recent price action.
However, this was followed by a sharp decline that brought the price of XRP to trading around $ 0.34.
A bit of support seems to have come into play at $ 0.33, which was the low format during a downtrend below $ 0.35 near the end of December.
With bearish movements in all major cryptocurrencies, the key level to monitor is whether XRP can hold over $ 0.33.
- The XRP exceeds the etereum within the last 24 hours to regain the position of second cryptocurrency by market capitalization.
- The XRP was forming a descending triangle that broke down in the last 24 hours.
- The key level for monitoring media at $ 0.33 was an important point for commercial activity at the end of December.
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