The price of Ripple lost 66% against the most dominant cryptocurrency in 2019 as new stats show, while BTC has seen an increase in price by more than 100%. As the altcoin news and rumors show, many cryptocurrencies are down significantly compared to the start of the year.
Moreover, there are a lot of altcoin/BTC pairs which have been hitting new lows and many of them are still trending downwards looking for potential support. One of these coins is XRP – and we can see how Ripple lost 66% against BTC with a decrease of 50% over the year against the US Dollar. In numbers, this shows that Ripple’s XRP token went from $0.39 to $0.195 very quickly.
Now, the question is: will 2020 be a similar year for XRP and altcoins – or will we see a switch in momentum?
This was certainly a bad year for XRP and Ripple lost a lot of its value. The price keeps hitting lows all over again and is expected to withhold its price again as it trades in a dangerous region.
As we could see from the overview, the price of Ripple lost the $0.30 support level that it held throughout the beginning of the year. However, XRP was not able to provide a higher high and continued making lower highs. These lower highs confirmed the downtrend and eventually, the breakdown of the $0.30 support level.
The XRP/BTC pair is also continuing to trend down which can be seen in the charts now which show that Ripple lost a lot of value. When it comes to the Ripple news now, we can see that the coin is trading at $0.1938 with a 1.11% increase on the day but this is still not substantial when it comes to the overall performance of the coin over the past few months.
Similar to many other coins, XRP is now facing a significant downtrend and the diagonal line has been a trend that is entrenched for more than a year. Breaking this line to the upside would potentially stage a big move to the upside. And even though Ripple lost 66% compared to BTC and 2019 was not a good year for altcoin traders, all of this could change soon.
DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at editor@dcforecasts.com
The post appeared first on DC Forecasts
