Cryptocurrency market update: XRP bulls defend $0.33 amid broad crypto correction
- Corrective mode sets in, as weekend love for the cryptos vanishes.
- Ripple least affected amongst the top 3 most favorite crypto coins.
- Ethereum rallies 26% so far this week, steals the show.
Top 3 coins’ price overview
- Bitcoin (BTC/USD) keeps its side trend intact within a 100-pips trading range on the 10k mark, as the bulls gather pace for the next push higher. The coin consolidates the recent upsurge to a five-month high of 10,511.86 reached last Thursday. The most widely traded cryptocurrency is down over 1% so far, ranging around 10,240 and enjoying a market capitalization of $186.27 billion.
- Ethereum (ETH/USD), the second widely traded digital asset, with the current market capitalization of $30.88 billion, trades with moderate losses near 282.50 level. The corrective slide from a new seven-month high of 288.70 stalled just below the 277 mark. Since then, the price is seen hovering in an $8 range, still gaining 4% over the last 24 hours and remains on track to book a whopping 26% weekly gain.
- Ripple (XRP/USD) extended its bullish momentum into a fifth straight trading session on Saturday and clocked a fresh seven-month high at 0.3466 before reversing sharply to consolidate the rally above the 0.33 handle. As a result, the spot formed a long-legged doji on the daily chart, now suggesting bullish exhaustion. At the press time, the No. 3 coin trades around 0.3350, down 0.45% on a daily basis while gaining 21% over the week.
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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