The altcoin market has been following the Pied Piper, Bitcoin, and has been noting similar wave-like movement, but one altcoin was reporting profit despite the constant bear attacks.
XRP
Source: XRP/USD on Trading View
The third-largest cryptocurrency, XRP has been fighting a difficult market condition for the past few days. XRP indicated a sharp rise in its price when 2020 began, marked with an uptrend in the chart above. After XRP reached the value of $0.3397, it began to slide. The coin’s major fall occurred on 12 March, pushing it once again to the $0.11 level. It managed to recover from it in the following days. XRP’s current valuation stood at $0.1723 and has been reporting a total loss of 16.61% of its value since the beginning of the year.
Chaikin Money Flow Indicator noted the signal line to be aligned under the 0 mark. This could be indicative of the selling pressure in the XRP market.
Resistance: $0.1986
Support: $0.1500
At press time
Price: $0.1723
Market Cap: $7.56 billion
24-hour Trading Volume: $2.18 billion
FTX Token [FTT]
Source: CoinMarketCap
The FTX token had peaked in 2020 on 17 February at $3.36, however, the price started to fluctuate from there. After noting the dip on 12 March, FTT has been noting great upswing in its value as it managed to reach $2.67 after the drastic fall. At press time, the value of FTT stood at $2.31, despite having been delisted from Binance due to a “lack of understanding of how leveraged tokens work” by many users on the exchange.
At press time:
Price: $2.31
Market Cap: $221.92 million
24-hour Trading Volume: $3.04 million
Lisk [LSK]
Source: LSK/USD on Trading View
Lisk has been one of the few altcoins noting tremendous growth despite an overall bearish market. LSK’s YTD stood at 56.17%, higher than most major cryptos. Despite generating positive returns LSK too underwent a devaluation on 12 March, however, it has registered moderate recovery. The coin was valued at $0.9792, at press time.
As mentioned before, the overall sentiment in the market appeared bearish and the same was indicated by Awesome Oscillator.
Resistance: $1.1184
Support: $0.5161
At press time
Price: $0.9735
Market Cap: $118.75 million
24-hour Trading Volume: $4.52 million
