Cryptocurrency Market Update: Ripple stuck in range circa $0.19 amid thin trading
- Crypto bulls struggling for a comeback after Friday’s crash.
- Ethereum outperforms the top 3 favorite crypto coins on a weekly basis.
- Bitcoin set to end the week 1.50% higher amid light Easter trading.
Top 3 coins’ price overview
- Bitcoin (BTC/USD) trades in a sideway manner so far this Saturday, fluctuating between gains and losses in almost $100 range. The bulls are struggling to extend the recovery from a five-day low of 6750.92 reached on Friday, in the face of a symmetrical triangle breakdown on the 15-minutes chart, which exposes the levels sub-6700. The most dominant cryptocurrency was last seen trading around 6880, enjoying a market capitalization of $125.93 billion.
- Ethereum (ETH/USD), with a current market capitalization of $17.59 billion, trims the recovery gains, tracking the consolidative mode seen across the crypto space following Friday’s steep declines. The No. 2 coin, currently, holds the lower ground around 158.80 region, having reversed the uptick to 161.51. The spot remains trapped between the 50% and 38.2% Fib level of Friday’s crash amid a quiet Easter weekend. Despite the anaemic recovery, the coin is on track to book an 11.50% weekly gain.
- Ripple (XRP/USD) continues to trade in a narrow range around the 0.19 handle on Saturday, reporting a 1% gain on the day. The bulls lack vigor amid thin market conditions, as the recent bearish bias remains intact following a pennant breakdown on daily sticks last Friday. At the press time, the No. 3 coin attempts a bounce from intraday lows of 0.1878, set to settle the week higher by nearly 6%.
Author
Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
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