Ripple Slowly Nearing Crucial Support Level Against Bitcoin

Ripple slowly nears the crucial support level against the benchmark cryptocurrency and the dollar price of the XRP token remained relatively flat with a gradual slide over 2019 so let’s see more in the upcoming XRP news.

XRP could be nearing another crossroad level and didn’t express the terms of dollar price and the satoshi position of the crypto-only reveals the confidence of a changing direction. The analyst Jacob Canfield explained this pivotal point for XRP at 2,350 Satoshi. Breaking below the level could signal more losses for the cryptocurrency. The satoshi price is critical since the XRP proponents expect the coin to replace BTC by merit of the faster network but when it comes to trading, the altcoins can no longer cycle against Bitcoin.

Back in 2017, the altcoins were mostly used for speculation and also to gain a bigger bitcoin position at the end of the year. However right now, moving from the leading coin to an altcoin is seen as very risky. Despite the two-year bear market sentiment for most of the altcoin, the analysts expected to slide further and continue with significant new downside moves. Canfield also noted that XRP could have decoupled from Bitcoin by reaching a position as a base pair asset. XRP has a thin market where it has to stand as a base pair asset and this has not helped the coin in the long run.

Over the past week, the global payments system asset dropped from above 3,000 Satoshi down to lows of 2,615 Satoshi and the latest period will show if the price recovers or reaches a lower level. In the past, XRP dropped from above 10,000 Satoshi entering a stage where the decline again with a risk of speeding up. Ripple slowly nears the crucial support and has a small satoshi market compared to Tether which makes up as much as 37 percent of all volumes. The move against Bitcoin could show further losses of faith that the Ripple project will displace the bitcoin network as the leading cross border payment solution. The low XRP prices only show that the asset is considered to start a potential rally but even with the low prices, there’s no guarantee that XRP will not continue to go lower and cause finance losses.