• Bitcoin (BTC) has been hovering at $8,300 recently amid market indecision.
  • Ripple's XRP stopped within a whisker of critical $0.30.

Low trading activity on the cryptocurrency market has been keeping Bitcoin and all major altcoins in tight rangers since the beginning of the week.  The total market capitalization of digital assets in circulation has barely changed in recent 24 hours. At the time of writing it is registered at $226 billion according to CoinMarketCap data. An average daily trading volume edged to $52. Bitcoin’s market decreased to 66.3%, which is the lowest level since the beginning of August. 

Top-3 coins price overview 

BTC/USD is trading marginally above to $8,300 handle unchanged both on a day-on-day basis and since the beginning of the day. The initial resistance is created by $8,500, though we will need to see a sustainable move above $8,700 for the recovery to gain traction with the next focus on $9,000.
 
Ethereum, the second-largest digital asset with the current market capitalization of $20.1 billion, has gained 1.2% in recent 24 hours to trade above $185.00 by press time. The coin retreated from an Asian high of $188.60 amid growing bearish sentiments on the intraday level.
  
Ripple’s XRP is one of the best performing coins out of top-10. XRP/USD hit $0.2995 high during early Asian hours before retreating to $0.2958. XRP is changing hands with nearly 3% gains on a day-on-day basis through the further upside may be limited at this stage.  

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Bitcoin resumes the decline after a consolidation period

Bitcoin crashed below $8,700 and tested $8,550 during early Asian hours on Thursday. The coin moved outside the recent range and extended the downside into the end of the week. BTC/USD has lost 2% since the beginning of the day and 1% in recent 24 hours. 

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Altcoin segment: bullish war drums

Sunny King, the creator of the consensus protocol Proof of Stake (PoS), has stated in a recent interview that Bitcoin has a vital role as a reference value in the crypto-verse, but that the highest growth potential is in the Altcoin segment.

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ETH/USD hovers around $185.00, vulnerable to further losses

ETH/USD is trading at $185.27 at the time of writing, having recovered from the intraday low of $184.11. The second-largest digital asset with the current market value of $18.8 billion has lost 1.34% of its value since the beginning of Thursday and stayed mostly unchanged on a day-to-day basis. 

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Ripple price prediction: XRP/USD smashes below critical support of $0.2700 – Confluence Detector

Ripple’s XRP extended thee sell-off to $0.2633 on Thursday. The coin is moving in sync with the market, controlled by bearish sentiments. A sustainable move below $0.2700 support bodes ill for XRP's short-term forecast, making it vulnerable to further losses.

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Bitcoin Weekly Forecast: Bulls wasted their chance

Bitcoin has been oscillating in a depressingly tight range since the beginning of November. Vanishing volatility makes it harder to engineer a decisive breakthrough from the range. 

Read the weekly forecast

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