Share:
  • XRP/USD is currently trading at $0.259 after a massive dump to a low not seen since August 1.
  • Most of the gains from the daily uptrend are now gone with XRP losing a significant portion of its dominance.

According to the CoinMarketCap dominance chart, XRP is now down at 3.3% dominance from its previous high at 3.83%, a low not seen since July 2020.  The weakness of XRP is quite apparent now as the digital asset will have very little support on the way down to $0.20.

While most of the market is also seeing red numbers, major coins have been holding on quite well. XRP bulls will now need to see a bounce from any support level to have any chance to recover its daily uptrend. 

XRP/USD 1-hour chart

XRPUSD

Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Join Telegram

Follow us on Telegram

Stay updated of all the news

Join Telegram

Recommended content


Follow us on Telegram

Stay updated of all the news

Join Telegram

Recommended Content

Editors’ Picks

Binance suspends USD transfers, CZ says the issue is being resolved

Binance suspends USD transfers, CZ says the issue is being resolved

Binance, the world’s largest exchange by trade volume, has announced that USD bank transfers will be temporarily suspended. Only a small portion of the exchange’s users will be impacted by the interruption of the service. 

More Binance Coin News

Shiba Inu bulls watch for reaction in SHIB price as total value locked in ShibaSwap doubles

Shiba Inu bulls watch for reaction in SHIB price as total value locked in ShibaSwap doubles

Shiba Inu ecosystem witnessed a slew of positive developments with the launch of layer-2 scaling solution Shibarium’s beta, rising total value locked in ShibaSwap and skyrocketing SHIB burn rate. 

More Shiba Inu News

Will Bitcoin price test $20,000 again?

Will Bitcoin price test $20,000 again?

Bitcoin price shows clear signs of distribution occurring on the four-hour chart, which indicates the possibility of a trend reversal. Moreover, BTC has been consolidating for more than two weeks with no direction in sight, making it a perfect place to form a local top.

More Bitcoin News

Ethereum Classic inching towards greatness?

Ethereum Classic inching towards greatness?

Ethereum Cassic price is consolidating before what appears to be the next move up. Risk management should be considered moving forward, as the ETC price will likely witness an influx of volatility.

More Ethereum Classic News

Bitcoin: Nonfarm Payrolls on the radar after Powell’s speech propels BTC higher

Bitcoin: Nonfarm Payrolls on the radar after Powell’s speech propels BTC higher

Bitcoin (BTC) price is at an inflection point as it continues to rally amid multiple sell signals on lower time frames. The Nonfarm Payrolls (NFP) report, including the unemployment rate and average hourly earnings, is set to be announced on February 3 at 1330 GMT.

Read full analysis

BTC

ETH

XRP