Altcoins News

Story: Altcoins Like Ripple Did Not Make Recoveries like Bitcoin – But Licking Wounds

By Steven Anderson

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There was a sudden sell-off for Bitcoin in the past week, after which the Bitcoin has not climbed back above the $10,000 per Bitcoin mark.

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In just a few hours the price of the Bitcoin saw an increase of $1,000, this leads to the price of the Bitcoin climb by 6% over the past 24-hour trading period.

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While there have been several high profile incidents happening this month, several analysts feel that these big-ticket happenings did not trigger the recovery of Bitcoin.

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Brad Garlinghouse of Ripple and Joel Katz, CTO Ripple stated, “you now have 60 days to stop dumping XRP, or we will stage a community takeover.

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The price of the XRP has slumped by 25% this year.  The price of Bitcoin has risen by 200%.  The Bitcoin dominance is now at 70%, which is the highest in 18 months.

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Garlinghouse defended the selling of XRP tokens by stating, "Reality is we decreased our sales by volume quarter on quarter, and since then the inflation rate of XRP circulating…

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About 3000 signatures are already done on a petition that asks Ripple to stop “dumping” XRP.

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While XRP is a solid coin with massive potential, the current trend needs to stop.  And the petition wonders how this sort of behavior is accepted in the crypto world.

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The XRP investors continue to be frustrated with Ripple.   The next resistance level for XRP is at 0.272 USD.

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XRP has a long way towards market recovery with the 1st Resistance and support seen at 0.264062333 USD and 0.255980333 USD respectively.  The price should climb over $0.

The Currency Analytics

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