Bitcoin and Ripple extend losses, even as Ethereum keeps to rise
the usage of costs from the Bitstamp alternate, XRP has fallen a outstanding forty eight% since the high posted on the start of this yr.
current talks of South Korean regulators stepping in has caused cryptocurrencies to chill off a bit and to this point the declines this week do not appear to be stopping. XRP has fallen to below $2 today, while Bitcoin is under $14,000.
on the day, Ripple's XRP is down by way of over 15%. however technicals show that there's a few form of help at cutting-edge tiers. the previous day, Greg had an excellent put up on the technical levels for both Bitcoin and Ripple right here.
looking at Ripple's hourly chart:
there may be some form of support for investors searching into XRP proper now as the low for nowadays coincides with the 31 December low and sits close to the 61.8 retracement level. at the same time as the chart remains bearish at this factor, dip buyers may additionally see this as an opportunity to get in.
however as Greg cited, for buyers to regain manage - they have to paintings via the MAs at the chart, otherwise the unfairness is still to the drawback.
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