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New! Bitcoin Price Prediction: $3,600 BTC Price Is a Very Likely Scenario. When to Invest in Bitcoin (BTC)?
New! Bitcoin Price Prediction: $3,600 BTC Price Is a Very Likely Scenario. When to Invest in Bitcoin (BTC)?

Litecoin Price and EOS Price Rally Hardest as Cryptocurrency Market Goes Green with Strong Gains

  • Jack Thomas
    🤷 Opinions

    ✔️💪There is positivity in the markets again with green numbers being seen throughout as Litecoin and EOS lead the way with 14% gains

Litecoin Price and EOS Price Rally Hardest as Cryptocurrency Market Goes Green with Strong Gains
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The entire cryptocurrency market, barring seven coins in the top 100, are seeing green numbers today, rebounding significantly and adding about 15 percent to the overall market cap in the last 24 hours.

Part of this overall shift has to be down to an increase in trade volume with a sustained uptick in trade volume following the most recent upwards bump last month. That extra trade volume has hung around for the last few weeks even as markets remain relatively flat, suggesting more sustained interest.

Looking deeper at the coins performing well, it is Litecoin and EOS who are leading the way in the top 10. Both of these coins are seeing gains of around 14 percent over the last 24 hours. The rest of the top 10 is ranging from a new percent up to about seven percent in the case of Ethereum.

Are we in a bull market yet?

Ever since Bitcoin crossed the $4,000 mark a few weeks ago, there certainly seems to be a change in the general feeling across the market with more positivity abounding and the market being able to rebound better from dips.

We have seen Bitcoin fall back below $4,000, but we have also seen it make positive strides over longer periods of time, taking most of the top 10 with it. Bitcoin is now very close to being back at $3,800 with its own 3 percent rise in price.

The last few months have seen Intercontinental Exchange's Bakkt continue to move forwards. It has seen J.P. Morgan launch its own blockchain-based cryptocurrency, Julius Baer announce digital asset plans, and Fidelity near the final stages of its own cryptocurrency plans, and much, much more.

Institutional market activity has unsurprisingly been bubbling up in February and March 2019 to an extent that can register on technical indicators. An increasing number of individuals are also looking more closely at cryptocurrency now than during the depths of 2018, and by every indication people are buying.

Coins to back

Litecoin has always been a promising inevitable coin, and within the recent weeks and months, it has returned to fighting it out for a bigger stake in market cap with better price growth. EOS has also been on a steady growth path since the beginning of this year with similar blockchains finding their feet.

Binance Coin is another that is doing surprisingly well, and continues to grow even despite the general market sentiment as it continues to mirror the growth of its parent exchange, Binance.

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Ripple’s Market Cap Further Slips Behind Ethereum as XRP Price Prediction Stalls

  • Jack Thomas
    🤷 Opinions

    📊👀Ripple’s Market cap, through its XRP token, was ahead of Ethereum at a few stages, but its price prediction has slowed and come under pressure from resistance below the $0.33 mark, and in doing so, Ethereum has pushed higher into second place

Ripple’s Market Cap Further Slips Behind Ethereum as XRP Price Prediction Stalls
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Ripple, and its native token XRP, have been stuck in a bit of a price vacuum over the past few weeks and months as many other coins have managed to break such marks. Sitting between $0.30 and $0.33, XRP has actually started to even lose ground on Ethereum in terms of market cap.

The third-ranked coin by market cap has in the past managed to over take the smart contracted-based blockchain as it surged in interest and growth in the recent past, but now it has fallen back by nearly $2 billion.

In terms of price prediction, XRP has a lot of hope and positivity surrounding Ripple’s efforts to make it a staple of banks going into the digital age, but it has stalled in its own growth recently, which is surprising seeing as other altcoins have doubled in 2019 alone.

XRP’s sticky situation

There was a small drop in the market last week which was halted when Bitcoin managed to keep above $4,000, but XRP also tested an important resistance. After testing the $0.3000 support, XRP’s price started a short term rebound against the dollar.

The price traded above the $0.3050 and $0.3080 resistance levels. The price even traded above the $0.3100 level, but it faced a strong resistance near the $0.3120 level. Besides, the price even failed to test the $0.3120 level and the 100 hourly simple moving average. A high was formed at $0.3113, and later the price started a downside move.

XRP is especially low currently, testing its floor rather than the ceiling, which has been seen closer to the $0.33 mark, but what is not helping the coin get past any of these resistance marks is its drop in market cap.

Ethereum taking the initiative

It is difficult to tell if Ethereum is making ground on XRP’s market cap based on its own growth – which has not been astronomical in terms percentage gains in the last few weeks – or if it has to do with XRP losing its own worth and value in the eyes of the market.

Ethereum is facing some major changes in the near future, and it could be that early investors are starting to look for a cheap deal as they prepare for the Casper upgrade and the change to Proof of Stake. Ethereum is bound to make big ground when that happens.

Ripple may not admit it, but having XRP as the second ranked coin above Ethereum would be a big deal for them as it adds a lot of legitimacy in the general market and helps in boosting their own worth and value as a company looking for more partnerships.

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