Ripple’s XRP crashes 6%, but remains stronger than many other cryptos

The cryptomarkt was beaten yesterday and that also feels XRP. The Crypto currency of Ripple yesterday collapsed by more than 6 percent, which means that the $ 3 dollar far far was out of sight.

The good news is that XRP is less bad than many other large altcoins. But also in the ‘XRP Army’ fear clearly predominates.

What for XRP?

This morning you were already able to read about the red avalanche that raged through the cryptomarkt yesterday. It was even the worst day since April 6: all crypto coins together lost 4.48 percent of their value yesterday. XRP was no exception.

The fourth largest currency finally closed the day with a loss of 6.22 percent. It has been the largest red candle since August 19. XRP started the day on a rate of around 2.92 dollars, but ended at $ 2.74.

What is striking is that XRP has not reached a new low point if one of the few has not reached. During the crash last Monday, the race went below 2.71 dollars, for the first time since 1 September.

It is a big difference with other coins. Bitcoin fell to his lowest race since 2 September and Ethereum (ETH) even to the lowest point since 7 August.

As can be seen in the analysis of Egrag Crypto, where the graph has been turned upside down, the course is still neatly moving in a large triangle pattern.

The course has now arrived at the support level marked in blue. If it falls even further, then 2.65 dollars is the next safety net.

If a recovery occurs, then $ 3.20 is the next important level. But in between, the psychological level of 3 dollars is also a crucial stop. XRP was rejected here last Wednesday.

This afternoon it will be important

For XRP it is of course very important what Bitcoin now has in store. The Bitcoin race fell to $ 108,700 yesterday, but is now almost $ 1,000 higher. $ 112,000 is an important level to pick up to become somewhat optimistic again.

This afternoon it could be decisive for the next step of the market. The favorite inflation meter of the US central bank will be published at 2:30 PM. It would be favorable if the figures arrive lower than expected.