The price of XRP has risen again, but everyone is thinking about whether there will be an exit to old levels.
Ripple (XRP), the third-largest cryptocurrency by total market capitalization, pushed the $ 0.80 level, while it suddenly found itself in the $ 0.40 band. XRP, which has fallen from $ 0.80 to $ 0.40 in an instant due to bitcoin’s volatile price movements, is bought and sold at $ 0.52 as of the moment this article was written. So, will the price of XRP rise again to the level that will force the $ 0.80 band, despite all these movements?
XRP price falls with Spark
In particular, XRP, which fell 10% on December 11 to $ 0.55 from $ 0.486, spooked investors. After the Spark airdrop event, it was expected that there would be drastic movements, but this drastic decline literally surprised everyone. The XRP price did not fall below the $ 0.48 support, and the next target could be $ 0.43.
The subsequent movements of the XRP price gave investors some hope. XRP / USD rose from $ 0.48 to $ 0.52. $ 0.52 had been a critical point of resistance for XRP earlier. A pass of $ 0.52, also supported by 50 SMA, will mean an exit to the $ 0.60 band again for XRP investors.
Critical level for XRP: $ 0.52
Looking at the XRP price analysis above, it can be seen that the XRP price is experiencing a serious blockage against $ 0.52. If the XRP price can remain above $ 0.52 again, the expected rally can manifest itself. Of course, for the rally, Bitcoin’s market dominance also needs to fall significantly and prepare for the rise of altcoins.
Bitcoin RSI has been hit hard in recent days, and despite this, the rise of $ 800 yesterday is not seen as a positive development for RSI. As of the time of writing this article, BTC is also showing movements aimed at raising over $ 19,200, and it is clear that XRP and other altcoins will not be positively affected by these movements. If Bitcoin can rise above $ 19,800 in the short term, the XRP price could fall sharply.
XRP in place, though altcoins rise
Ethereum, on the other hand, continues the rise of XRP along with Bitcoin in the opposite direction. Litecoin seems to be the only altcoin in the top 10 that has risen more than ETH, which has increased 5% in the last 24 hours. LTC rose 8% again to above the $ 80 level. Although there is movement in other altcoins, the fact that XRP is behind shows that investors are waiting for difficult days.