dailyhodl.com
XRP is one of the few crypto assets seeing green as Bitcoin and the crypto markets shift into negative territory.
At time of publishing, the third-largest cryptocurrency by market cap is up 6.57% at $0.2659.
Meanwhile, Bitcoin is down 1.24% at $9,176, Ethereum is down 0.84% at $187.87 and Bitcoin Cash is down 0.87% at $379.11, according to the data tracker COIN360. Here’s a bird’s-eye view of the market.
Despite today’s rally, crypto strategist DonAlt tells his 127,000 followers on Twitter that XRP remains in a bear trend until it can break above $0.30.
“Going according to plan, I TPd early to avoid the $0.25-$0.30 resistance area which is where pretty much all of the risk is. As I stated early in the thread, $0.30 is the number to beat, until that happens all of this is a bear market retracement.”
As for BTC, it hit resistance at $9,551 on January 30th, leaving crypto traders wondering just how large the current correction will be.
A trader known in the industry as TraderXO tells 31,500 followers on Twitter that BTC will remain bullish if it can post a higher low in the coming days. The trader says BTC needs to stay above $7,600 to $8,200 to avoid a major breakdown.
“BTC – Higher Low and I’m Bullish.
If the local top is in and BTC prints a higher low between 7.6k – 8.2k – then my bias would be bullish.
Breaking below 7.6k’s more so the yearly open then quite likely BTC drops further lower, continuing its bearish market structure towards 5.8 – 6k.”
Featured Image: Shutterstock/diuno