Ripple (XRP) rate rises while bitcoin (BTC) continues to trade sideways

Ripple (XRP) rate rises while bitcoin (BTC) continues to trade sideways

Use of Bitcoin (BTC) network is approaching all-time high

Even today, little changes to the bitcoin (BTC) price. BTC has been trading sideways for a few days, but luckily there is some action in the altcoins. The ripple (XRP) rate, in particular, has risen sharply in the last 24 hours.

Ripple (XRP) rose in value in the last 24 hours by no less than 16.4% and thus rises to a value of $ 0.3015. Yesterday, XRP broke out above the $ 0.2620 and $ 0.2650 resistances, greatly increasing momentum. Finally, the resistance was broken at $ 0.3000. For XRP, the next resistor is now at $ 0.3120. If this price level breaks through, the price can continue to rise towards $ 0.3150 and $ 0.3200.

With an increase of 7.5%, Ethereum (ETH) is also nicely in the plus and thus manages to break the resistance at $ 200. ETH is currently worth $ 231.40. All altcoins in the top 10 based on market capitalization are in the plus, while BTC did not increase in the last 24 hours. As a result, the bitcoin dominance has dropped to 67.7%.

Bitcoin (BTC)

At the time of writing, the price of bitcoin (BTC) is $ 10,260 after having risen by a meager 0.06% in the last 24 hours. In short, little changes for bitcoin compared to yesterday.

On the hourly graph of the cryptocurrency exchange Coinbase, you can see that bitcoin again forms a breakout pattern. The support line for that is $ 10,200. At the top are a number of resistance zones at $ 10,300 and the 100- moving average (MA) on the hourly graph.

Should bitcoin break out convincingly above these resistance zones in the coming hours, the next important resistance will be $ 10,400. However, an outbreak at the bottom of the pattern can cause bitcoin to fall further towards $ 10,000.

About Shawn Morrison 266 Articles
One of the founders of BitzArena. Active with crypto currency since the rise of the bitcoin. Loves the innovative character of crypto and blockchain technology, and follows developments in the market closely. Likes to connect technology with business, and likes to make difficult concepts accessible to a wide audience.

Be the first to comment

Leave a Reply

Your email address will not be published.