Ripple’s XRP token had rallied steadily alongside Bitcoin during the mainstream cryptocurrency’s last spikes, but not this time.
While Bitcoin has recovered from its plunge and regained a steady position above $19,400.00 on CoinMarketCap this week, Ripple (XRP) has struggled to stay afloat. Currently, the altcoin has plunged from the $0.50 level to lows of $0.45, and technical analysts are saying that for it to regain strength, it needs to correlate with Bitcoin’s momentum once again as it did before.
That is at least what needs to be done in the short term for XRP to recover in price. Michael van de Poppe, a trader on Amsterdam Stock Exchange, explained that in the near future, the crucial support level to watch for regarding XRP would be the $0.46 level. In technical terms, this is equivalent to the 0.000024 BTC area on the XRP/BTC pair. However, if this level fails to be flipped into support, experts have declared that XRP will remain in a bearish…