HomeTradingRipple price analysis: XRP worries

Ripple price analysis: XRP worries

Among the main drops of today’s analysis, there is to report the downward movement of EOS that falls more than 2%, as well as the pair Stellar (XLM) and Ripple (XRP) whose prices lost more than 2 percentage points.

ripple price analysis xrp
Source: Coin 360:

Among the upward movements, Monero stands out, rising by more than 3 percentage points, followed by Tron with a +1.5%. Tron is trying to regain the levels of the past few days and return to focus its attention on the upward attempts in order to leave behind the difficult period of last week and the last period of March.

Bitcoin, despite remaining in pain, is giving demonstrations of excellent results, just like the industry, maintaining support levels in the medium term.

As for the capitalisation of the crypto market, with the levels of over 180 billion seen in recent days and absent since November, we are back close to 170 billion. Nothing to worry about, it’s not a major loss.

BTC’s dominance stabilised again at around 52% and the same applies to Ethereum, which settled just over 10%. On the other hand, Ripple continues to fall, with a dominance that returns below 8%, levels that have not been recorded since last October.

ripple price analysis xrp
Ripple chart by Tradingview: 

Ripple Price Analysis (XRP)

There is concern about the difficult time of Ripple. XRP, despite being able to keep over 33 cents, abandons the levels of 38 cents it achieved last weekend. Among the major cryptocurrencies, Ripple is the one that loses more ground. As you can see from the weekly table, the price of Ripple loses more than 10%.

ripple price analysis xrp
Bitcoin chart by Tradingview

Bitcoin Price Analysis (BTC)

Bitcoin, after having bet on the 5,500 dollars, returns to test the psychological threshold of 5,000 dollars. This is a 10% loss from the mid-week highs, but it does not bother from the point of view of the medium-term trend. In fact, the holding of 5,000 dollars and the psychological and technical threshold at 4,800 would be a sign of strength.

The movement sees a possible concern only if the extension and breaking of the 4,800 dollars should push down to 4,500 dollars. The movement requires the formation of a support and consolidation basis to understand over the next few days whether BTC will have the strength to push above $5,500 during the next monthly cycle.

ripple price analysis xrp
Ethereum chart by Tradingview 

Price analysis Ethereum (ETH)

The downward movement that Ethereum has been experiencing in the last 48 hours after going above the indicated $185 threshold brings prices back to test the $165, a movement that extends downward by 15% from mid-week highs.

It is a movement that brings prices back below the triple maximum which appeared to have given a positive signal with the breaking occurred at the beginning of the week.

For ETH it will be important to maintain the support of $155 and not to extend any movement down to $135. The fateful threshold of 185 dollars, level touched on April 8th and 10th, remains crucial.

Federico Izzi
Federico Izzi
Financial analyst and independent #trader – S.I.A.T. & Assob.it partner. He operates actively on stock and derivatives markets (futures and options) since 1997. A precursor of cyclic-volumetric analysis he is known for having identified the most important upward and downward movements in the financial markets of recent years. He participates annually as a speaker at the ITForum in Rimini since the 2010 edition and InvestingRoma and Napoli since the first edition of 2015. He is a guest and market expert on the "Trading Room" and "Market Driver" broadcasts of Class CNBC, Borsa Diretta.tv and on the evening news of Traderlink. Since July 2017 he is a permanent guest on LeFonti.TV, the only weekly national space dedicated to cryptocurrencies alongside the most important international experts in the field. He was interviewed as a cryptocurrency expert for Forbes Italia, Panorama, StartupItalia and DonnaModerna. He was recognized as the first Italian technical analyst to have published the first secular cyclic analysis on Bitcoin. Periodically publishes articles on ITForum News, Sole24Ore, MILANOFINANZA, TrendOnLine and Wall Street Italy. Federico Izzi is... "Zio Romolo".