For two days now, the digital currency market has been experiencing a heavy downward trend. It’s been up to 48 hours of gloomy performance for all the digital currencies in the market. The massive plunge has pushed the price of Bitcoin (BTC) below the $10k level; a level which was last seen about two weeks ago. Bitcoin is currently having challenges breaking over the $10k range. Bitcoin’s fractal performance has affected the entire digital currency market, including XRP (XRP) – the third-largest digital currency by market cap.
The downward trend in Bitcoin (BTC) price has created another market FUD (fear, uncertainty, and doubt), as the digital currency lost over a thousand dollar in one day. At the moment, the price of the digital currency seems stagnant around the $9,900 mark, waiting to make or break further.
Altcoins Face Criticism for Not Keeping Up with Bitcoin’s Last Price Rally – Best Cryptocurrency to Invest in 2019 – Cryptocurrency Market Update – Cryptocurrency News Today
The altcoins markets have been facing a lot of criticisms for not replicating the momentous rally displayed by Bitcoin (BTC) over the past weeks. Bitcoin (BTC) recently experienced a massive upsurge that pushed its price over the $12k range. Normally, an upsurge in the price of Bitcoin usually results in an upsurge in the price of altcoins. However, this time around, the case was different. Bitcoin was the only one enjoying the gains while the altcoin market was left behind.
As a result of this, John Moe – a prominent digital currency trader – gave a realistic prediction for XRP and Bitcoin (BTC) as the digital currency markets trends low. The crypto trader acknowledged the presence of the present downtrend, but he did not predict a possible bottom limit for Bitcoin (BTC). He also said that if BTC is not able to find a strong support level soon, it would be awful for XRP.
— Jonny Moe (@JonnyMoeTrades) August 14, 2019
Bitcoin (BTC) Price Today – BTC / USD
Bitcoin (BTC) Price Analysis – Bitcoin News Today – Cryptocurrency Market Update
Bitcoin (BTC) is slightly trading in the green after amassing some gains over the past twenty-four hours. However, the digital currency is still struggling below the $10k level. As the digital currency markets continue to head south, no one knows when and where the downward plunge is going to end. However, many are optimistic that Bitcoin (BTC) price will not fall below the $9,500 mark.
At the time of writing, Bitcoin (BTC) is trading at $9,951 after an increase of less than one percent over the past day. The market cap of the digital currency has dropped to $177.93 billion. However, the daily trading volume of the digital currency is on the rise. Over the past day, the trading volume of Bitcoin (BTC) is $21.72 billion. The immediate support of BTC is $9,850. On the upside, the $10,000 and $10,200 levels are acting as resistance for Bitcoin (BTC).
XRP (XRP) Price Today – XRP / USD
XRP Price Analysis – XRP Price Prediction – Cryptocurrency News Today
The price of XRP is down by about one percent over the past day, leaving XRP USD live price at $0.26. XRP and other digital currencies refused to rise along with Bitcoin (BTC) during the last BTC Bull Run. However, the massive plunge in BTC price is affecting the entire market. As the value of Bitcoin (BTC) continue to plunge, so is XRP’s price. BTC needs to find a strong support level for XRP to also gain grounds. At the press time, the immediate support of XRP is the 25 cents level. On the upside, XRP is facing hurdle at the $0.2650 and $0.2700 levels.