XRP claims the leading role in the crypto market for the second day in a row. Yesterday, Ripple’s cryptocurrency was among the biggest losers in the historic bloodbath, but today the damage has almost been completely repaired.
The only question is whether XRP can keep this up. Several analysts commented on this.
XRP is making a bizarre comeback
XRP is currently showing price movements that we will most likely remember for a long time. Yesterday the price collapsed by 19.71 percent and is currently at a gain of 19.07 percent today.
Yesterday went down as XRP’s worst day since June 21, 2021. That’s four years and seven months ago. Or a whopping 1,691 days.
Bitcoin (BTC) also had a historic day. The price of the largest cryptocurrency fell by more than $10,000 for the first time ever. Ultimately, it ended with a loss of more than 14 percent.
Bitcoin fell to its lowest price since October 10 (just under $60,000) and XRP returned to its lowest price of November 21 of the same year. At the time, XRP was on an unprecedented rally thanks to Donald Trump’s victory in the US presidential elections.
XRP needs to chase this level now
XRP hit a low of just under $1.14 yesterday and ended the day above $1.21. Analyst The Great Mattsby calls $1.15 an “important zone” and has therefore successfully defended it.
“Now XRP still has some work to do to regain the zone around $ 1.60, the analyst said.
Dark Defender also pointed out that XRP touched its 100-month exponential moving average yesterday. At the same time, the RSI, a momentum indicator, reached its lowest level ever, while the underlying structure remained intact.
Source: https://newsbit.nl/xrp-koers-herstelt-19-na-slechtste-dag-in-bijna-vijf-jaar/
