Ripple’s XRP is gaining support at $ 0.8060. Can it ricochet?
- RippleXRP’s XRP has finally found support at the $ 0.8058 level and the closing of the candles above that level signals an uptrend in XRP / USD.
- Predicting Ripple’s Crypto XRP That It Will Be Out Of The Top 10 ListCryptocurrencies will drop out in 2022 had a negative impact on XRP prices on Wednesday.
- The report suggested that Bitcoin will surpass the S&P 500 in 2022. Alternative coins that are on Layer 1-Blockchain will be based ETH continue to surpass.
the XRP / USD closed at $ 0.81725 after hitting a high of $ 0.86435 and a low of $ 0.81173. XRP / USD extended its decline, dropping to its lowest level since December 20 for another session on Wednesday.XRP / USD
According to a final report for 2021 issued by a blockchain data research firm Arcane Research, Ripple and Cardano will drop out of the top 10 crypto list in 2022. The company released a report with its predictions for the crypto markets in 2022.
The report suggested that Bitcoin will outperform the S&P 500 in 2022. Alternative coins based on the Layer 1 blockchain will continue to outperform ETH. The traditional gambling companies will be taking up NFTs raise. Several crypto companies will reach a valuation of $ 5 billion and more will go public. Some predictions have also been made about hash rate and Bitcoin ETFs.
The prediction of Ripple’s token XRP that it will drop from the list of top 10 cryptocurrencies in 2022 had a negative impact on XRP prices on Wednesday. XRP / USD losses rose after the crypto coin began to follow the path set by Bitcoin and Ethereum, the two leading cryptocurrencies. The trend set by two leading cryptocurrencies weighed on the entire crypto market, followed by coins like XRP, which continued to fall on Wednesday.
Meanwhile, the only thing propping up XRP prices was the latest comments from Brad Garlinghouse, CEO of Ripple. He said that despite the ongoing battle with the Securities Exchange Commission, it was the toughest year ever. In addition, the falling US dollar on Wednesday also helped XRP / USD contain its losses. The US dollarindex, which measures the value of the greenback against the basket of six major currencies, fell below the 96 level, holding prices down from XRP/ USD within limits, as both have a negative correlation.
Daily technical level
Pivot point: 0.83111
Ripple Technical Outlook – XRP / USD Aims $ 38.2 Fibo-correction on
Ripple has finally gained support at the $ 0.8058 level and the closing of the candles above that level signals an uptrend in XRP / USD. In the 4 hour period, Ripple closed a Doji candle, indicating weakness in its propensity to sell. Therefore, the chances of a bullish correction remain high and XRP / USD can Fibonacci-Complete correction of 23.6% and 38.2% to a level of 0.8118 and 0.8637, respectively. A break below the 0.8058 level places the coin towards the 0.7611 or 0.7194 support levels. Much luck!
Source: Crypto News Deutsch