XRP price rallied more than 30% as retail traders rotate into “cheaper” altcoins and investor sentiment turns positive after Ripple’s recent legal victories against the SEC.
XRP, Stellar and XinFin see tremendous growth as enterprise solutions that offer cross-border solutions and serve the unbanked gain traction.
Altcoins continue to press higher while Bitcoin bulls work on holding the $60,000 level as support.
Traders appear to be waiting for a trigger to start the next leg of Bitcoin’s uptrend and if that happens, XLM, MIOTA, XMR and XTZ could join the party.
Now that Bitcoin price has flipped $50,000 back to support, small and large-cap altcoins are gearing up for a move higher.
Bitcoin and most major altcoins are witnessing strong buying at lower levels, indicating the start of a relief rally.
Bitcoin and most major altcoins remain rangebound with the exception of Cardano.
Bitcoin price is attempting to flip the $50,000 level back to support, while many altcoins are capitalizing on BTC’s consolidation by moving higher.
Bitcoin and altcoins both saw a strong bounce off their intraday lows, which signals that traders still view dips as buying opportunities.
Bitcoin’s rally to a $1 trillion market cap could attract more buyers to the crypto sector and boost the price of several altcoins.