Bitcoin Wind in Ripple (XRP)! 🌪️ Could BTC Complicate Things?

The cryptocurrency market is feeling the bearish breeze after a significant move by the Federal Reserve. 

Ripple (XRP) had been inching towards the $0.52 mark, but it seems to be wrestling with staying above the $0.50 range. 

Currently, XRP's short-term trend remains somewhat favorable while it maintains its position above the 50-EMA. 

However, there's a twist in the plot – the potential resurgence of Bitcoin (BTC) might throw a curveball into the mix, creating challenges for XRP bulls. 

As the crypto landscape continues to evolve, keep a close eye on these dynamics. It's a thrilling time for traders and enthusiasts alike! 

Bitcoin (BTC) Price Recovers After A Hard Drop: So What Will Ripple (XRP) Price Be?

While Bitcoin is recovering, XRP continues to count.

Bitcoin (BTC), the largest cryptocurrency by total market cap , has recovered from where it fell to over $ 19,220 as of the time of this writing. The expected return has come, although the drop in the bitcoin price from $ 19,000 to the $ 17,000 band reddishes all altcoins and the market.

Bitcoin Price Recovers

While this increase in bitcoin price affects almost all altcoins positively, XRP has not been able to catch the desired rise and continues to fall. The XRP / USD trading pair is currently resisting against falling below $ 0.50. However, despite the volume of cryptocurrency exchanges, the price decline definitely shows that the selling pressure has reached incredible levels.

This rise in the bitcoin price is directly related to institutional investors. B TC received official approval from one of the world's largest insurance companies , such as MassMutual , and the company stated that it has made an investment of $ 100 million. Following this, news emerged that MicroStrategy received another $ 650 million BTC. XRP, on the other hand, made a hard sell with the expected day of the airdrop program made by the Flare Network.

XRP Investors Panic Continues

It is unclear how many SPARK tokens XRP investors will buy right now, and yet the sharp fall in price suggests these could be manipulative moves. The number of XRP whales had increased at a record high just before the airdrop, and the likelihood that the whales are now selling is well.

Critical resistance points for XRP are known as $ 0.48 and $ 0.42. Landing below here could mean a new bear season.

It is known that the next resistance points for bitcoin price are the close above $ 19,200, the $ 19,600 resistance and finally the weekly close above $ 19,800. When the BTC / USD pair reaches these levels, altcoins are likely to be crushed. However, BTC seems to be standing still and giving altcoins a chance to rise after a serious rise.

Critical Points for XRP and ETH

If XRP can escape the selling pressure, it will have to break $ 0.55 first and then $ 0.62.

On the other hand, Ethereum price managed to break the critical resistances in front of it by reaching the level of $ 578. If Bitcoin's market dominance drops, the ETH price is expected to rise to $ 620, from there to $ 680 and finally to $ 750. Of course, all this depends on the course of the Bitcoin price and is indexed.