Ripple’s XRP Mirrors Market Leader Bitcoin [BTC]

[PRIBO247]

Ripple’s XRP followed the market over the weekend moving
from $0.35 to $0.375 on Saturday. It has since retraced to
around $0.36 with key support at $0.35. This has been similar
to the movements of market leader Bitcoin who represents
around 54% of the entire cryptocurrency market .
Over around the past week, Ripple’s XRP has ranged between
$0.30 and $0.40. An increase last week met strong resistance
at $0.40 and since met support at $0.35. A drop during the
bearish market movements approached $0.30 but managed to
bounce.

Even though XRP is the largest altcoin by market cap, its
recent price movements indicate that it is following the
movements of the overall market. Whatever way price moves
from here is likely to depend on the movements of the market
overall.
The price of XRP currently trades near the key support level
around $0.35. A significant move up would be expected to
meet resistance again at $0.40. A sharp drop below would
likely meet support around $0.30. Bitcoin has also been
trading at a key level around $4000 and could easily break
above or below from here. Whatever way Bitcoin breaks from
here are likely to be mirrored in the same manner by XRP.

Key Takeaways:

* XRP followed market movements over the weekend
increasing on Saturday and since retracing.
* XRP has been trading in a key range between $0.3 to $0.4
over the past week.
* Both XRP and Bitcoin trade near key levels currently.
* Whatever way Bitcoin breaks from here will likely be
mirrored by XRP.

Source : https://blokt.com