Bitcoin

Bitcoin & XRP Price Bond: What to Expect From XRP If BTC Reaches $6000 – Analyst

XRP and Bitcoin Price

It has been quite a gloomy day for the entire crypto market led by the actions of Bitcoin as the leading crypto coin plunges down the chart to a value last seen two weeks back ($10,200), after resurrecting people’s hope in cheering for a long waited bullish run.

XRP and other cryptocurrencies have also pledged allegiance to Bitcoin’s fractal.

After failing to hold firm above $11,000, Bitcoin is now approaching its psychological support, $10,000, used as a frontier in determining the readiness of a bullish rally. Today alone, Bitcoin has lost more than $600 from its value to create another market FUD.

However, experts have advised against the FUD in pressuring sellout, but rather implored us to see the present plunge as a rally bringing us closer to another entry level.

Based on XRP’s inability to replicate the momentous rally its displayed when Bitcoin pushed up to its all-time high ($20,000), lots of criticisms have been fashioned around the market performance of the altcoin in recent time especially when it failed to be influenced by Bitcoin’s last significant upside drift.

As such, prominent cryptocurrency trader John Moe who contributes for Coindesk and Forbes, issued a somewhat realistic prediction targeted at Bitcoin and XRP as the market trends low.

Trader Moe acknowledged the presence of the current downward slope but did not forecast a possible bottom limit for BTC. Moe added that if Bitcoin fails to find a solid support soon it would be dreadful for XRP.

Moe said if Bitcoin pulls back to $6,000 level, XRP would get shredded.

No intimidation, Bitcoin’s Next Key Level is $10300 – $10325

As the market continues to plunge with a realistic drive to an unknown bottom level, Colombian economist/traders, Alex Kruger, has implored people to be less intimidated by the FUD caused by the overriding bearish power.

Today's Gazette Telegram

Kruger said he’s not frightened as the present fractal will only land Bitcoin at another key level which is around $10300-10325. Trader Kruger backed his claim with the ‘Fear & Greed index’, saying it is  currently at the Dec/2018 lows.

Analyst crypto Bitlord who has a somewhat similar belief stated that 9K lower bolly is unlikely considering the 9.9/10 horizontal support.

Disclaimer: Our writers invest in cryptocurrencies and it is possible the author of this article has investment in any of the digital currencies discussed. Some times author's presented information may be laced with opinions. Treat articles as mere information and not as financial advice.

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About the author

Khalid Lawal

Lawal Khalid is an avid entrepreneur and a peace advocator. He takes time developing expertise in journalism, and he has significant contributions at Arianna Huffington's Thrive Global, Oracle Times, Coin Gape and a host of other notable news publications.

Owing to his long time interest in innovative technology, Lawal cut into the blockchain world, and he has been unearthing meaningful investigation as well as noteworthy blockchain researches.

Khalid sits at the helm of NewsLogical.com as a full time journalist and a senior market analyst.

Email: lawal.khalid@newslogical.com

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