The chart for today saturday february 2 is still influenced by one of the worst weeks for the cryptocurrencies market. Bitcoin is still down, and all the other digital coins are following its path. This period of decline may last at least one more week, to start a full recovery at the end of the month.
The primary trouble with it’s market cap, is entirely centered on large quick jumps by 23.6% in a matter of days or hours. Despite its more recent jumps and dives, its lowest point on the market stands at a stark contrast to the US dollar. At a mere $0.8038.
When tracked over a longer period of time, the resistance is clearly noted around 50% of a retraceable decline from $1.0814 to it’s marketable low of $0.9240 a scalable difference of about $0.8038.
Yet despite it’s ups and downs near such low centered rates, the cryptocurrency Ripple (XRP), is overdue for another large jump in order to continue it’s steady eventual climb to the top. Since it is at current hovering around the $0.8700.
Though many brokers are expecting it to bottom out in the coming days, below the $0.7500 level. This is primarily due to the immense pressure being placed upon it against the US dollar and the more popular Bitcoin (BTC). This could innately be due to the major support levels it has received being one of the more popular up and coming of the low-end cryptocurrencies on the market today. And with it’s steady backing and high recent jumps in comparison to the others, it is gaining more support as brokers and investor keep a watchful eye on it’s continued progress.