Ripple News Today – The storm doesn’t seem to be over for the cryptocurrency market as the number one coin takes a dramatic slide in price value. The BTC dropped from $10,856 to $10,025 in a shockingly short time. The BTC dropped from $10,590 to $10,120 in less than 7 hours. This sudden slide displays Bitcoin’s volatile and nature. Analysts and researchers gave a BTC price prediction indicating that the coin may find it difficult to stay in the $10,000 range and may drop below this value. This would be an unprecedented move as most traders hoped that Bitcoin’s bearish days were over. The BTC could face two major resistance levels that could hamper any hopes of having a bullish run.
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Some cryptocurrency experts have advised against panic selling, stating that the present decline by the BTC was just in preparation for the expected soar that will bring the desired profit. History has shown that the BTC always climbs back from a sudden decline. Other analysts state that the present bleak condition in the cryptocurrency market was also because the end of the year was close and money would be diverted for other things.
Other cryptocurrency coins reacted to Bitcoin’s decline in a negative way. Most coins suffered losses due to the huge influence the BTC has on the other cryptocurrency coins. One such coin that has been greatly influenced by Bitcoin is the XRP. The XRP was one of the few coins that reacted differently to Bitcoin rise to an all-time high of $20,000. This caused the XRP to be heavily criticized as it failed again to rise in price value when the BTC recently showed an upward surge.
The attitude of Ripple XRP has caused analysts to have a pessimistic attitude regarding the relationship between Bitcoin and the XRP. John Moe, a cryptocurrency trader and contributor for Coindesk and Forbes believes that things would be seriously bad if Bitcoin is unable to find a solid footing soon and continues to slide. Moe predicted that it would be the end for the XRP if Bitcoin falls to $6,000 price level.
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Even though the cryptocurrency market seems to be plummeting like a shooting star, economists and analysts believe that all isn’t lost. Alex Kruger, a Colombian economist, stated on social media that the present bearish state of the cryptocurrency market wasn’t enough for people to lose hope. He gave a Bitcoin price prediction that saw the value of the coin rising to the $10,300 to $10,335 levels. Other analysts including crypto Bitlord agree that the BTC was unlikely to drop below the $9,000 level.
XRP (XRP) Price Today – XRP / USD
It is undeniable that the Bitcoin greatly influences the nature of the other cryptocurrency coins in the industry. This has brought a lot of focus and pressure to perform on the number one ranked cryptocurrency coin. This has also made some researchers and analysts believe that the cryptocurrency market was doomed to crash because of the over dependence on the BTC. Others believe that the altcoins would one day rise from the clutches of dependency and break of the yoke and overthrow their master. One thing is certain, the way we see money and do business may be about to change.