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July 19, 2024
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Altcoin Market Cap Continues With a Sluggish Trend While XRP Price Clinches $0.5!

The post Altcoin Market Cap Continues With a Sluggish Trend While XRP Price Clinches $0.5! appeared first on Coinpedia Fintech News

As Bitcoin displays some upward price action, the altcoins tend to follow and procure some easy gains. On the flip side, once the star crypto loses its grip over the ascending trend, the altcoins are also badly impacted as they lose the maximum of their gains. However, XRP being slightly away from the crowd is displaying the possibility of a bullish breakout, both in the XRP/USDT and XRP/BTC pairs. 

The XRP/USDT pair, after marking consecutive bullish candles, is now closer to breaching the ascending parallel channel. Once the upper resistance of the parallel channel is cleared, the price is believed to trigger yet another bullish wave towards the higher targets. The price is finding support at $0.48 and the 50-day MA levels, which may help the rally remain elevated. 

Besides, XRP is also showing immense strength against Bitcoin, as the pair is about to validate a bullish breakout. With the recent upswing, the pair has made a fair move towards the upper resistance, or trend line, of the descending triangle. A break from the bearish pattern may also enable the bulls to take over the rally. And as long as the Bitcoin price remains sluggish, XRP/BTC is believed to maintain an elevated trend. 

Presently, XRP/USDT is trading at $0.5003, with a jump of 4.39% since the daily start, while the XRP/BTC pair is trading at 0.00001797. Both pairs are flashing acute bullish signals and have huge possibilities to mark new highs in the coming days.

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