As of Thursday morning, Ethereum (ETH), the second-most valuable cryptocurrency after Bitcoin (BTC), is rapidly moving closer to the $1,700 level. On the other hand, Bitcoin was able to record a minor increase and is currently holding steady around the $21,000 mark. Numerous other well-known cryptocurrencies, such as Litecoin, Dogecoin, Solana, and XRP all had slight increases.
According to crypto market information portal Sentiment, XRP is currently one of the cryptocurrencies with the greatest positive sentiment in its account. XRP holds companies with assets such as BNB, CAKE and THETA in this metric, and the study was conducted during the past week.
On-Chain Analysis
The cryptocurrency market saw a big decline during this time that didn’t affect any of the assets. If the market’s entire spectrum experienced a drop under roughly equivalent conditions, then each of the provided instruments would have to decide for itself how to continue to accumulate and grow.
Thus, each coin in Sentiment Research experienced a gain of at least 10% over the next few days, while XRP only recovered a 4% loss. However, XRP has a 98% investor satisfaction rate, which is two to three times lower than other tokens with comparable features.
XRP Price Analysis
Following the general trend of the cryptocurrency market, XRP fell to an early low of $0.3390 before turning around. XRP reached a day high of $0.3525 while staying clear of the First Major Support Level at $0.3373.
Support will be found at the first major resistance level of $0.3524 and $0.3525 at Wednesday’s high by avoiding the $0.3457 pivot. For XRP to rally to $0.35, the market must support it more broadly. In the event of a long cryptocurrency uptrend, XRP could test the resistance at $0.36 and the second major resistance level (R2) is near the $0.3592 level.
If the pivot were to drop, the First Major Support Level at $0.3389 would come into play. If not for a widespread crypto sell-off, XRP should stay above $0.3300. The downside should be contained by the Second Major Support Level at around $0.3322.
