Tanya Abrosimova
Independent Analyst
- Major cryptocurrencies are rangebound after strong movements on the weekend.
- XRP and Bitcoin SV are the growth leaders.
Major coins are trying to stage recover on Tuesday; however, Bitcoin and all major alt coins are still away from the recent highs and below critical resistance levels. The total capitalization of all digital assets in circulation crept to $131B from Sunday’s low of $127.6.
Bitcoin (BTC) stays marginally above $3,800, still capped by $4,000 resistance. The first digital coin is rangebound with a short-term bullish bias, gaining 1% since this time on Monday.
Ethereum (ETH) is subdued at $139.45. The second largest coin touched $137.83 low during early Asian hours but managed to regain ground swiftly. We need to see a sustainable recovery above $140.00 for the upside momentum to gain traction. The upcoming Ethereum network updates are making traders nervous, which may lead to increased market volatility.
Ripple’s XRP, the third largest coin, gained nearly over 9% since this time on Monday amid news that that coin may be listed on Coinbase. Currently, XRP/USD is changing hands at $0.3320. As XRP’s volatility is expanding, we may be in for another leg higher as long as $0.33 support stays intact.
Apart from XRP, Bitcoin SV is the growth leader of the day. The coin gained over 15% to trade at $71.55 at the time of writing. It takes the 11th place in the global cryptocurrency market rating with a current market value of $1.26B.
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