As the day slowly progresses, it will become more apparent if this bearish trend will resume. So far, that appears to be the case, as eight out of ten top markets are in the red right now. Even the XRP price is facing a bit of bearish pressure. It remains to be seen if the $0.31 level can be maintained for much longer, as the current trend doesn’t look all that promising.
XRP Price Remains Under a lot of Pressure
No one will be surprised to see the bearish Bitcoin pressure get to alternative markets in recent hours. Most of these markets derive value from Bitcoin first and foremost, although there will always be some exceptions in this regard. As far as XRP is concerned, it would benefit from a Bitcoin uptrend, even though that could easily disrupt the XRP/BTC ratio. That ratio has, for the first time in a while, dropped below 8,000 Satoshi and is staying there.
Over the past 24 hours, the net 0.46% loss in USD value is not overly important. It does push the XRP price very close to the $0.31 level, although the level may…