XRP price bore $ 2, as Rally Dogcoin fades
XRP hanging on an important price level, while it seems that the Dogecoin gathering has ended. XRP decreased by 25 % this month, from $ 3.40 in mid -January to $ 2.28, according to Coinmarketcap.
In this case related to the market where Bitcoin tops the decreases, XRP was somehow managed to keep the price above $ 2. Although this support may not be coherent for a long time if the encryption market starts a new sale tomorrow when Asian trading hours begin.
It seems bad, but there is still hope that XRP exceeds 38.2 % of the Fibonacci level, a major field where prices are often bounce.
On the other hand, Dogecoin does not look strong. Dog has decreased below the level of decline by 61.8 % Fibonacci, which traders understand is a drop reflection point. Dog had a large rally, jumping from $ 0.10 in October to $ 0.484 in December, but now decreased to less than $ 0.21, and lost more than 70 % of her gains.
Retrocting Fibonacci is a tool that traders use to predict how much prices will decrease before continuing their direction.
In short, XRP is working well at the present time, although it is falling, and it appears that Dogecoin loses its momentum.
Also read: Bitcoin is disrupted to $ 87,000: Is now the best time to buy BTC?
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