2019-1-24 18:19 |
XRP Daily Chart
There is currently a lot of indecision in the cryptocurrency markets. Both bitcoin and ethereum are forming Doji candles on their daily charts.
A Doji candle is a candle where the open and the close are around the same point and typically reflect uncertainty from traders.
XRP has been testing the $0.31 support level each day this week after price underwent a bearish drop from $0.335 over the weekend.
Each test of a level makes the level weaker with fewer buyers to hold the level each time.
This increases the likelihood that price may drop below $0.31.
XRP 4-Hour ChartAny price drops below $0.31 so far this week have quickly found liquidity and rose back above.
Price dropped to as low as $0.304 on Tuesday but quickly bounced back up.
Ethereum and XRP have been valued closer in terms of market cap.
Data from Messari currently show XRP valued at $12.9 billion while Ethereum is valued at $12.1 billion.
If Ethereum can outperform XRP on the next significant move, it is possible that Ethereum could overtake XRP again.
Key Takeaways: There is currently a lot of indecision in the market with both Bitcoin and Ethereum forming Doji candles on the daily charts. XRP has been trading above support at $0.31. Any drops below $0.31 have quickly found liquidity. Price dropped as low as $0.304 on Tuesday.Price Analysis: Can Ripple’s XRP Stay Above Ethereum? was originally found on Cryptocurrency News | Blockchain News | Bitcoin News | blokt.com.
origin »