Cryptocurrency market today Bitcoin (BTC) Once again, it turned everything upside down with a 5% or more decline. Although hopes rose again with the rise of the leading crypto currency to above $ 50,000, the unexpected decrease in the price brought altcoins to the bottom.
XRP Price Drops Hard
XRP, With this decline, while trying to protect the $ 0.88 support, it even fell below the $ 0.80 level and is currently being bought and sold at $ 0.79. The fact that the XRP price has fallen by 4.2% in the 24-hour period has only affected the daily chart at the moment. The main danger for XRP is expected to fall below $ 0.66 or after a daily close with the current level.
Although the volatility was at the bottom last week, XRP managed to reach an important point and hit the level of $ 0.89. XRP, which ended the downtrend and took this point as support behind it, was targeting $ 0.95 for the continuation of this, but it was not expected.
According to technical indicators, the RSI indicator is moving horizontally on a daily basis, and the effects of the oversold zone are decreasing. This certainly bodes well for XRP, but before the BTC price rebounds, XRP may not be expected to take action.
MACD, on the other hand, indicates consolidation, giving a result that is close to the price going back and forth in this range for a while. In the short term, recovery may not be expected unless XRP price rises above $0.89 again. A fall below $0.66 will bring disaster.