Bitcoin & Ripple Goes Down; Make Huge Cuts Overnight
- Bitcoin falls to $9600 whereas Ripple took over 5% dip in a day
Bitcoin and Ripple both have faced enormous setbacks over the last 24 hours. BTC price has been down by more than 5% and reached well below $10,000. Similarly, the degree of loss for XRP coin stands at 5.77% in the last 24 hours. Each coin has shown four major price shifts in this period.
Bitcoin vs. Ripple Price Analysis
Bitcoin got its first hike of the day between 05:21 UTC and 13:11 UTC and this hike of 2.13% added $214 to each coin. But the second swing was the one changed the course. Between 17:17 UTC and 18:20 UTC, BTC lost 6.42%. It made the coin to be placed at $9602.85. From there, Bitcoin experienced the strengthening, and with 1.49% growth, it reached $9743.45 over the next five hours. Even this marginal growth could not be sustained for long. BTC price fell to $9544 with the help of a 2.03% dip.
Similarly, XRP also has seen a considerable cut in the price. The first decline happened between 01:00 UTC and 04:57 UTC and this cost $0.0041 to Ripple. After the next few hours of consistency, XRP took a huge plunge of 7.64% between 16:03 UTC and 18:15 UTC and this plunge pushed the Ripple price to $0.2463. It was followed by a hike of 4.72% and by 22:56 UTC, the coin was being traded at $0.2579. The latest swing for the coin happened towards the closing, and it took the XRP price to $0.2510.
Both the coins have taken the hit of the market-wide slowdown. However, the medium-term is said to be bullish for the coin. Let us look at the next probable resistance and support levels for both coins,
Bitcoin:
R1: $10116.97, R2: $10479.52 and R3: $10679.68
S1: $9554.26, S2: $9354.10 and S3: $8991.55
Ripple:
R1: $0.2675, R2: $0.2775 and R3: $0.2848
S1: $0.2501, R2: $0.2428 and S3: $0.2328
