Ethereum

Cryptocurrency

Bitcoin

when

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/ripple-faces-increasing-market-challenges/" data-wpel-link="internal">Ripple Faces Increasing Market Challenges</a><br></p>
<p style="text-align: justify"><strong><a href="https://en.coin-turk.com/comparison-of-2016-and-2020-bitcoin-prices-and-the-future-of-cryptocurrencies/" data-wpel-link="internal">Cryptocurrency</a></strong> markets in Western Asia are falling below the first quarter peak of $2.86 trillion due to rising geopolitical tensions. <a href="https://coin-turk.com/xrp-tahminlerinde-yanilmayan-analistten-kritik-seviye-uyarisi" data-wpel-link="internal">Ripple</a> (XRP) took its share from last week’s major sell-off. On Sunday, it dropped to $0.43 and then experienced a minor recovery.</p> 
<h2 style="text-align: justify" id="alarming-signs-for-ripple">Alarming Signs for Ripple</h2> 
<p style="text-align: justify">However, the rise did not last long above $0.5 due to increased selling pressure ahead of <strong><a href="https://coin-turk.com/kripto-kahininden-bitcoin-mujdesi-boga-sezonu-icin-buyuk-sinyal" data-wpel-link="internal">Bitcoin</a>‘s</strong> third halving cycle. After a more than 21.2% drop over the week, <strong>XRP</strong> is trading at $0.4766 on Wednesday. <a href="https://en.coin-turk.com/crypto-analyst-donalt-predicts-conditions-for-trading-bitcoin-and-altcoins-again/" data-wpel-link="internal">Bitcoin</a>‘s price is also falling, testing the $60,000 support with further risks of dropping to $50,000.</p> 
<p style="text-align: justify">Major <strong>altcoins</strong> like <a href="https://coin-turk.com/ethereum-grafigi-ne-soyluyor-spot-bitcoin-etf-onayi-sonrasi-ethereum-yorumu" data-wpel-link="internal">Ethereum</a> (ETH) could not escape the blow from the drop from March’s high levels. <a href="https://en.coin-turk.com/giants-are-on-the-move-successive-moves-for-the-altcoin-king/" data-wpel-link="internal">Ethereum</a> dropped to $2,950 at the time of writing and fell a total of 15% over seven days. A surprising 26% decrease in 24-hour trading volume to $1.66 billion supports the decreasing interest in XRP among investors.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-341479 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/04/ripple.jpg" alt="" width="1545" height="630"></p> 
<h2 id="will-xrp-reach-1-again">Will XRP Reach $1 Again?</h2> 
<p style="text-align: justify">XRP has fallen to the seventh position with a market cap of $26 billion, trailing behind Lido Staked Ether, a liquid stake token pegged to ETH’s price. XRP is currently testing a significant support area at $0.47. This area has been a launching pad since July 2023, where bulls have stepped in, changing the trend direction upwards and stopping permanent losses.</p> 
<p style="text-align: justify">If bulls defend the area around $0.47, an immediate recovery could pave a new path towards $1. Despite this strong support, investors need to be cautious as support areas tend to weaken when tested multiple times. Trading below $0.47 would significantly magnify XRP’s technical weakness and expose the tokens to short sellers. Some investors might prefer to sell at a loss to protect their wallets from volatility, which could further increase the already intense selling pressure.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/ripple-faces-increasing-market-challenges/" data-wpel-link="internal">Ripple Faces Increasing Market Challenges</a></h5>

Ripple Faces Increasing Market Challenges

Table of Contents

COINTURK NEWS

Other articles published on Apr 17, 2024

Market Bloodbath: Bitcoin (BTC) Plunges Below $60K, Ethereum (ETH) Loses $3K

Exploring Bitcoin Market Trends and Movements

Discover the Digital Asset That's Set to Eclipse Ethereum's Performance

Solid Allies Form as Koala Coin (KLC) Aligns with the Consistent Climb of NEAR Protocol Backed by...

Claims There Will Be a Major Development in the Ripple Case This Week: Company’s Chief Legal Offi...

Crypto Analyst Unveils Highly Potential BTCfi Altcoin Watchlist as Bitcoin Halving Approaches

Join our free newsletter for daily crypto updates!