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XRP Price Falls 11% Before Regaining the Price Level of $0.30

SAN FRANCISCO, California – XRP experiences a drop of 11%, having a price of $0.2924. On the bright side, the price climbed back to $0.3000 over the United States or the US dollar.

The XRP price traded at $0.2924, recording a 10.83% loss, and it’s the most significant loss for the day since March 12. The downward move drove the market capitalization of XRP down to $13.19150 billion, which is 3.89% of the entire digital currency market capitalization. The highest market capitalization of this digital asset is at $20.48129 billion.

In the previous 24 hours, XRP exchanged from $0.28482 to $0.29948.

XRP’s value risen in the previous week, and it earned 35.56%. The XRP volume exchanged was $4.66825 billion, and it’s 3.92% of the total digital asset volume. Plus, it traded in a range of $0.2173 to $0.3252.

Despite the rally, XRP is still down 91.11% from its $3.29-price on January 4, 2018.

As for Bitcoin (BTC), this digital asset exchanged at $11,154.80, which was 7.29% down. As for Ethereum (ETH), the price traded at $380.09, having a 7.13%-loss.

Bitcoin’s market capitalization was at $205.97755 billion or 60.80% of the full digital asset market value.

After the drop, the Ripple’s XRP price increased more than 30% in the previous week to ascent beyond $0.3000 over the US dollar. It dropped under $32.50, yet there’s a new will be a further increase as per technical, which is over $0.3150.

This week has been bullish for Ripple’s XRP after increasing over $0.3000, after Ethereum and Bitcoin’s rally. The price increased further over the resistance level of $0.3120, and it settled over the 100-SMA or Simple Moving Average.

The XRP price’s new multi-week high exchanged at $0.3255 before it hit the decline under the support zone of $0.3000. The price even spiked under the support level of $0.2800, yet dips stayed at the price level of $0.2500.

There’s a significant bullish line establishing with the support that’s close to the price of $0.2780 on the XRP/USD pair. The swing low was at the price level of $0.2401, and it previously began a new increase.

There’s also a break over $0.2800, including the Fib retracement level of 50% of the previous crash. It’s from $0.3255 high to a low price of $0.2400.

The XRP price is now trying the Fib retracement level of 61.8%, and it’s from the previous drop of $0.3255 high to a low of $0.2400. On the bright side, there’s a bullish resistance close to the price level of $0.3000. There’s also a successful close over the $0.3000 barrier, and it might open doors for more earnings.

The succeeding significant resistance of this XRP price is at $0.3120, and the price is probable to surge to the price levels of $0.3200 and $0.3250 in the approaching sessions.

If there’s another weakness correction, this digital asset is probable to search for support that’s close to $0.2850. The line support is close to $0.2800. With this, bulls might struggle.

Once there’s a bearish close under the line support, the XRP price might extend the drop to the $0.2650 and $0.2600 levels.

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Adam Joyce

Adam is a passionate cryptocurrency writer.

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