XRP Breaks Down in Severe Manner, Golden Cross on DXY Pushes Doom onto Market, Ethereum to Land on Crucial SupportDisclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies.
On the other hand, if the $0.55 level holds firm, there is a chance for the price to start recovering. But for a real upward trend to take shape,The fall in XRP's price can also be linked to the aggravating correction on the market, which has been somewhat expected. DXY, which measures the dollar's value against a group of major currencies, has shown a"golden cross" pattern.
The DXY's important levels to watch include resistance around the 104-point mark and support at the 103-point mark. Breaking past resistance could mean a continued uptrend for the dollar, while dropping below support might indicate the rally is losing steam, which could give other markets some relief.
Looking at its price chart, Ethereum has dropped from its higher price points and is now focusing on a crucial support area around the $3,000 mark. This price level is important because it has previously served as a key point for buyers and sellers.can stay above this $3,000 support is key. If it does, it might indicate potential for the price to go back up, as buyers could be encouraged by this historically significant level.
XRP Breaks Down in Severe Manner, Golden Cross on DXY Pushes Doom onto Market, Ethereum to Land on Crucial Support