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XRP vs BTC via CoinMarketCap
In the aftermath of the dovish FOMC meeting last week, the Bitcoin price is now trading back over the $70,000 level, hitting an intraday high of $71,600 on Wednesday.
Alongside BTC and ETH rising 10-11% in the past seven days, the XRP price is also up close to 7%, trading at $0.63, with a market capitalization of just under $35 billion.
New altcoins are also witnessing strong gains as investors continue to search for low-cap tokens that could offer higher returns than the large-caps.
XRP Price Prediction – Next Resistance And Support Levels To Watch
Despite Bitcoin’s brief dip under $61,000 on March 20th, the XRP continued to hold above the $0.57 price level, which remains its most crucial support.
As far as resistance levels are concerned, the bulls need to breach $0.67. A flip of this level into support could pave the way for the XRP price to hit $0.94 in the short-term.
0.67c reclaim and we can safely long to the range high at 0.94c. Exciting times to come pic.twitter.com/ACuWlw6wQW
— Crypto Tony (@CryptoTony__) March 16, 2024
Analysts also believe that the XRP/BTC and XRP/ETH trading pairs could help predict the XRP price action.
According to popular trader Crypto_Prime, the XRP/ETH chart bears a close resemblance to the ETH/BTC chart, except that the former is lagging behind and is yet to see the upside move that Ethereum witnessed against Bitcoin.
Similarly, analyst Andrew Griffiths highlights that the XRP/BTC pair – which is currently trading at 0.0000095 – could skyrocket to its Fib 0.786 level at 0.000018 before April.
#XRP XRP/BTC can go up to .702-.786
I believe it should happen within the next 10 days (before the current 3M candle closes)
We shall see, but i believe this pair has hit the local short term bottom.
Comment:
Bear trap, buy the dip#XRPBTC pic.twitter.com/voesWK9WuQ
— Andrew Griffiths (@AndrewGriUK) March 22, 2024
XRP remains one of the most fundamentally sound cryptocurrencies, especially after Judge Analisa Torres ruled that Ripple’s programmatic sales did not violate the Securities Act. XRP’s non-security status remains the letter of the law, which could become especially important if the SEC decides to label Ethereum as a security.
Analysts believe that XRP could also catch the eye of BlackRock, considering its utility in real estate showcase tokenization.
In terms of Bitcoin’s resistance and support levels, the bulls would look to secure a weekly close above $67,400 and the bears would look to force another retest of the 4-hour Exponential Moving Average (200), which is currently at $62,550.
New Altcoins In High Demand As Investors Search For Higher Returns
A consolidation in Bitcoin provides the ideal backdrop for altcoins to rally, especially the low-caps and the mid-caps.
Investors are looking to buy new altcoins and meme coins that could generate higher returns than the large-caps in the short term. Slerf’s 5000% price rally – in the span of hours – is the perfect example of this trend.
The Slerf meme coin has also brought the presale meta back into the spotlight. Other new presale crypto coins such as Dogecoin20 and Bitcoin Minetrix are witnessing strong growth, raising $10 million and $12.5 million respectively in their ICOs. Their staking programs, which offer passive income at a high APY, has led to additional interest from retail investors.
New meme coins also remain an attractive buy, considering that smart-money traders are viewing them as beta bets on their respective blockchains. For instance, a new Solana meme coin Smog has rallied 10,000% in just over a month, primarily due to its airdrop campaign which is rewarding its over 106,000 token holders.
