With a drop in Bitcoins price in the past 48-hours, most of the markets altcoins have been facing strong corrections. At press time Bitcoin was being traded at $17,058, with a trading volume of $33 billion.
For popular altcoins like XRP, Monero, Dogecoin this bearish pressure in BTCs movement has resulted in major price corrections in less than 48-hours time.
XRPs price was on a steady rise during the past few weeks. However as the sentiment in the Bitcoin market changed and the price dipped, XRP as always wasnt immune to the fall. In less than 48-hours the coins price has fallen by close to 30 percent and is currently being traded at $0.521. At present, XRPs trading price is testing the support at $0.51, with another strong support at $0.48.
The Bollinger Bands are not wide and indicate the lack of volatility for XRPs price action. The RSI also paints a bearish picture as it now heads steadily into the oversold zone.
Monero also faced substantial corrections on the price charts as its trading price dropped by over 18 percent in the past two days and is currently trading at $113.7. The privacy coin is currently ranked 17th on CoinMarketCaps list with a market capitalization of over $2 billion. If the price were to further fall it would meet the support at $111. At press time there seems to be significant resistance around the $123 price level.
The EMA ribbons have now settled above the price of Monero and are likely to offer resistance around its key resistance level. ...
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