But because they are traded bitcoin stake and still mostly unregulated, they act like the more volatile parts of the stock market with valuations that go up and down sometimes quite rapidly. Key Takeaways: Contents, bitcoin price surged above the 3,550 and 3,620 resistance levels. Its purpose is to be a currency with no middlemen (banks) needed. . On the upside, a break above 3,700 and 3,800 is needed for an acceleration towards the 4,000 and 4,200 resistances. On the other hand, Ripple is doing something entirely new and are not super well established yet which makes it a very risky trade. Bitcoin Price Chart: Click to Enlarge. However, the upward move was capped by the.3250 resistance and the.8 Fib retracement level of the last drop from the.3427 high.2900 low. Ripple was started in 2012, with a very different purpose than Bitcoin. .
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Ripple trimmed gains and it is currently consolidating above the.3000 support area. But if Ripple can make a go of the market they are inventing and the technology that is used to solve the problem of currency transfers across fiat money systems, then they might have a lot of room to grow. Looking at the 4-hours chart, the price broke many hurdles on the way up, including 3,620 and the 21 simple moving average (4-hours). Ripple is soaring, but you wouldnt know it from just looking at the price. However, there is a strong support formed near the 3,625 and 3,640 levels. Even Bitcoin is only 10 years old at this point and all the other cryptos that have come after Bitcoin are even younger.