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XRP Coin price has decreased to $0.51, while Ethereum (ETH) 
$2,527 dropped to $2,500. Bitcoin (BTC) 
$104,129 is searching for new lows, recently falling to $65,637, which has caused a decline in altcoins as expected. The ongoing drop in the ETHBTC pair further indicates a troubling situation for altcoins.
Target for ETHBTC Chart
Ethereum continues to lose value against Bitcoin. This ongoing loss for the largest altcoin by market capitalization implies further declines for altcoins. With Bitcoin’s market dominance increasing, the pressure on altcoins is intensifying. Benjamin Cowen has once again highlighted the previously stated target for ETHBTC.
“ETH/BTC just reached the previous low. If 0.038 fails, 0.036 will likely be the next stop. Structurally, we will witness the lowest point by the second week of January.”
If 0.038 fails, the next possible target will be 0.036, the highest level of 2016. As I have been saying for three years, the lowest point of this cycle will likely be between 0.03 and 0.04.”
Ripple (XRP)
Ripple 
$2 CEO Brad Garlinghouse announced his support for John Deaton in the campaign for a U.S. Senate seat from Massachusetts. While supporting Ripple’s former executive Harris, the current management largely remains neutral. Deaton has been a leading advocate for XRP Coin and cryptocurrency for years.
If elected, Deaton’s strong stance against the ongoing battle against cryptocurrencies, especially regarding the XRP Coin case, could represent a significant win for the crypto community. For this reason, Garlinghouse expressed his “enthusiastic and heartfelt” support for Deaton in his announcement.
XRP Coin continues its day with a nearly 3% decline. This drop is related to the overall negative market sentiment. If selling pressure accelerates, we could see new lows at $0.48 and subsequently $0.43, below the support level of $0.50.
In the opposite scenario, classic targets remain at $0.55 and $0.58, followed by $0.64. The ongoing appeal process in the case continues to hinder positive differentiation, and this issue will persist in the medium term.
