Ripple, bitcoin (BTC) and ethereum (ETH) suffered heavy losses over the past week, after the widespread sell-offs pushed the scorer's floor. On November 22nd, XRP was traded up to £ 0.34 ($ 0.44) per token, according to CoinMarketCap at 11.54pm GMT (UTC). Only three days later, at 22.24 GMT on Sunday 25 November, the XRP fell to 0.28 pounds ($ 0.36) against the dollar. Over the same period, the price of bitcoin fell from £ 3,596.69 ($ 4,602.17) per token to a minimum of £ 2,803.31 ($ 3.587) on Sunday morning.
Ethereum was also not spared, with the cryptocurrency falling from £ 106.96 ($ 136.86) to £ 80.70 ($ 103.26).
The downward movement seems to have drawn today with a certain bullish momentum that developed Tuesday night, November 27th.
XRP is now trading in green, up 7.38 percent in the last 24 hours at 11:00 am GMT.
The token is swapping hands for £ 0.29 ($ 0.37) per token – a variation of five percent of its opening price of £ 0.27 ($ 0.35) today, according to CoinDesk.
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However, a daily update of the eToro platform suggests that there is still room for improvement in the market despite the most positive markers today.
The message reads: "The cryptocurrency market has remained volatile in the last 24 hours, returning to the green, with seven of the 10 best encrypted registered.
"At the time of writing, the bitcoin had increased by more than six percent, once again exceeding $ 4,000.
"However, despite these recent gains, most cryptos still have a long way to go in order to recover recent losses."
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Technical analysis of cryptocurrency suggests that Ripple will meet its next challenge at a resistance level of around £ 0.30 ($ 0.388).
In the event of trading interruptions, XRP may have to resort to previous support levels of around £ 0.27 (from $ 0.34 to $ 0.35).
There is, however, no indicator to suggest how XRP will move in the coming days.
Market moves come when Securities and Exchange Commission President (SEC) Jay Clayton announced today that he is still not comfortable with an encrypted fund based on cryptography due to poor market surveillance.
Clayton said, "What investors expect is that the commodity trading underlying the ETF makes sense and is free from the risk of manipulation.
"It's a problem that needs to be addressed before being comfortable."
The president of the New York Stock Exchange (NYSE), Jeffrey Sprecher, nevertheless suggested a more positive outlook for the future of virtual currencies.
Speaking yesterday, he said that the survival of cryptocurrencies is "unequivocal".