With a drop in the price of the Bitcoin and XRP in the past 48-hours, most of the market altcoins have been facing strong corrections.
As of now, Bitcoin was being traded at $17058, with a high trading volume of $33 billion.
For some of the most popular altcoins like Dogecoin, XRP, and Monero, this bearish pressure in the BTC movement has resulted in major price corrections in less than 48 hours of time.
XRP’s price was on a high rise during the past few weeks. Moreover, as the sentiment in the Bitcoin market even changes, and the price dipped, XRP, as always, was not immune to the fall. In less than 48-hours, the coin’s price has been fallen by around 30% and is, as of now, being traded at $0.521. As of now, XRP’s 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 the XRP’s price action. The RSI also paints a bearish image as it now heads steadily into the oversold zone.