Ripple’s XRP Among Top-Performing Cryptocurrencies Despite 7% Loss

2018-11-19 18:54

The bearish movements over the past week have resulted in Ripple’s XRP becoming the largest altcoin by market cap. XRP overtook Ethereum which has been suffering steep losses during 2018. XRP has been performing better than Ethereum during both upward movements and downwards leading it to take the number two spot.

Last week saw XRP form a weekly low near $0.40. It had since recovered to near $0.52. While most other cryptocurrencies have gone on to form new lows with today’s latest drop, the value in XRP has held better than most and seems to be meeting support at the daily 50 EMA. Price is currently trading around $0.475.

The bearish movements across the market today are still having an impact on XRP. The price has retraced the majority of the past two days gains and has depreciated around 7% over the past 24 hours. With the exception of USD Tether and Bitcoin Gold, this makes XRP the best performer in the top 20 with most recording losses in the double-digits.

XRP Daily Chart – Source: Tradingview.com

The hourly chart shows the increase over the past two days followed by the depreciation being seen over the past 24 hours. The 50 EMA is approaching the 200 EMA to the downside which would form a death cross, a typical bearish signal. This is likely to have little impact on price action, given the general direction of the market being bearish regardless.

XRP Hourly Chart – Source: Tradingview.com Key Takeaways: XRP among best-performing cryptocurrencies in the top 20 despite 7% loss. XRP price action seems to be supported by the daily 50 EMA. A death cross is looking likely to form on the hourly chart but unlikely to have any important impact considering that the general direction of the markets is bearish anyway. DISCLAIMER: Investing or trading in digital assets, such as those featured here, is extremely speculative and carries substantial risk. This analysis should not be considered investment advice, use it for informational purposes only. Historical performance of the assets discussed is not indicative of future performance. Statements, analysis, and information on blokt and associated or linked sites do not necessarily match the opinion of blokt. This analysis should not be interpreted as advice to buy, sell or hold and should not be taken as an endorsement or recommendation of a particular asset.

Ripple’s XRP Among Top-Performing Cryptocurrencies Despite 7% Loss was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

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Ripple (XRP) на Currencies.ru

$ 0.5093 (+0.25%)
Объем 24H $538.096m
Изменеия 24h: -2.41 %, 7d: 1.72 %
Cегодня L: $0.5075 - H: $0.5235
Капитализация $28.16b Rank 7
Цена в час новости $ 0.4899 (3.96%)

xrp ripple ethereum week movements among cryptocurrencies

Источник: blokt.com

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