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- Messari’s report shows that Ripple is one of the most popular cryptocurrency in the country of South Korea
- The price of XRP still lies below the 21-day SMA and is trying best to recover all that it has lost since 2019
- The XRP sellers are primarily targeting to just keep the price value above 0.2126, the lowest of all time, in order to keep the share bearers satisfied
From the recent reports of the house of Messari, it is revealed that Ripple and Bitcoin stand as South Korea’s most popular cryptocurrency. The data providing units were Corbit and Coinone, Bithumb for the term of 2019.
BTC recently led the scoreboard with all-time highest and justified its popularity. The prices of Ripple have not been in a good position for quite a long time. XRP has recently regained their losses by gaining hands on bids from the low value to a value of 0.2690 earlier this Tuesday. The prices of Ripple stays below the 21-day’s SMA, still Ripple is said to be a very popular cryptocurrency in South Korea, the trend is maintained from 29th December, 2020.
A VIEW OF XRP’S WEAK HOLDINGS
XRP has revealed its weakness not only by the line of low trend but also by the break of support and the falling trend. We can clearly measure how much losses XRP is undergoing presently by studying its trend lines from 10th January to 25th December, 2020.
Due to the low trends, the sellers of XRP are basically aiming at the lowest value of 0.2400 to avoid any further downfall in the company which would drag them below the lowest value of 0.2126. A return of the 21-day SMA has led to a challenge for a period of two weeks, a line of resistance closest to 0.3010.
XRP’S POPULARITY EVEN WHEN IT IS AT ITS LOWEST PRICE
The market experts of the South Korean cryptocurrency, found Ripple to be the most known crypto in the country after Bitcoin. But the prices of XRP over the past couple of years show that it has been at a very low value and is still recovering in a very small scale.
Presently its primary motive is to keep the price above the all time lowest of 0.2126. The sellers are focused on selling good amounts at a rate that will keep the price above the lowest. But XRP will have to trend line slope in a downward fashion to reach a value of 0.3530 so as to qualify the upside clearance.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
