There has always been anticipation about the prospects of markets that are not Bitcoin. To a large extent, these markets rely on Bitcoin to gain real value. Thus, they lose value as soon as Bitcoin loses value.
XRP experiencing a stronger bearish period
Although Bitcoin is not losing that much value, apparently things are a bit different where XRP and consorts are concerned.
Looking at facts, the XRP price has declined by 3% and drop to $0.320269. Since the asset broke the $0.33 level, there has been plenty of restraint on the market for some unknown reason.
Comparing XRP/BTC, there is another 2.15% loss. Taking a closer look at this ratio, it can be noticed that a decline from 9,000 to 6,000 Satoshi has been in place for some time now.
Presently, the ratio lies at 6,087 Satoshi, but it is still under a fair bit of pressure.
As everyone expected, the XRP community remains steadfast despite how the market is evolving.
Future looks gloomy for XRP
Taking a look at the actual XRP chart, it would appear there are different possibilities which can play out in the nearest future.
If this bearish pressure continues, there may be a decline to 4,500 Satoshi. However, there may also be a rebound fairly quickly, although the future can’t be perfectly predicted.
Again XRP is under a fair bit of pressure, it seems as if things could change direction at any given moment.
In terms of XRP/BTC, things might not necessarily improve, but there is a good chance the USD value will see some form of improvement in the very near future. The coming hours, days and weeks will be very interesting in many different ways.
Although, no real changes will occur in quick succession.