The fall, which occurred less than a week after Bitcoin reached a record high of over $69,000, wiped billions from the crypto market. After plunging below $60K BTC regained some of its value but has recently dropped again. It’s presently selling for about $59K.
Ethereum, Solana, Ripple, Cardano, Dogecoin, and Shiba Inu all lost roughly a tenth of their value overnight on Monday, and they also lost value on Thursday, following Bitcoin’s lead.
Below the $1.10 barrier, the price of XRP has developed bearish momentum. It even broke through the $1.05 resistance level, although at the time of writing it is now stabilizing near $1.06. Any further losses could push the price near the $0.920 support level.
On Tuesday, Ripple went further with this argument, claiming that if the SEC wins the lawsuit, it will deter all-new innovators, whereas correct crypto legislation will establish the groundwork for the industry to thrive.
XRP whales, formerly thought to be missing in action, have gradually begun to resurface. A whale transferred over 12.7 million XRP tokens worth about $14 million from the medium-tier CoinOne exchange to an unknown wallet just a day ago, for example. The price of XRP has always responded to whale transfers, and this time was no exception.
XRP hinnakujundus
. XRP hind appears to be losing steam again after a strong start to November. On November 10th, a firm higher high was set at $1.35, immediately reversing market momentum with a severe down to $1.115.
The coin found excellent support at $1 after falling from $1.2. The bears, on the other hand, do not appear pleased, and at the time of writing, they are attempting another push lower. At $0.96, the bulls have another line of defense if they are successful.
Source: https://coinpedia.org/ripple/xrp-price-to-drop-below-1/
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