XRP continues to surge, but Bitcoin again hits resistance in another drive at $100k

XRP continues to make headlines. First came positive news about its legal case against the Securities and Exchange Commission, which appears to be nearing a resolution. Then, over the weekend, reports surfaced that Ripple Labs, the issuer of XRP, may gain approval to launch a stablecoin offering.

XRP's price has surged an impressive 28% over the past 24 hours and has more than tripled over the past month.

Meanwhile, Bitcoin approached the $100,000 mark in the early hours of this morning but met resistance around the $98,500 level – a barrier that has proven challenging over the past few weeks.

Altcoins are pushing ahead of many of the large-cap cryptocurrencies, with some posting notable overnight gains, while markets for SOL, BTC, and ETH have trended slightly downward.

Where does the market go from here? This rally has investors intrigued, as seen by a surge in first-time buyers on the Luno platform. The big question this week: Will bitcoin break $100,000? And how will XRP respond if Ripple’s stablecoin receives regulatory approval, reportedly expected on 4 December? 

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In the Markets

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🌦️The Data... 

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Total crypto market cap

$3.43 trillion (+0.62%)

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What Bitcoin did yesterday

Daily high $98,145  |  Daily low $95,773

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Bitcoin market capitalisation

$1.9 trillion (-0.55%)

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Bitcoin 24-hour trading volume

$44.1 billion (+47%)

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SP500
+0.56%

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Fear and Greed Index

Extreme Greed

‍Source: Coinmarketcap

The Fear and Greed Index measures volatility, market momentum/ volume, social media, surveys, dominance, and Google search trends to gauge market sentiment.

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Bitcoin Relative Strength Index (RSI) (14)

37

Values of 70 or above indicate that an asset is becoming overbought and may be primed for a trend reversal or experience a correction in price, while 30 or below indicates an oversold or undervalued condition.

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Post Script…

Cautionary Notes

It’s definitely tempting to get swept up in the excitement, but please heed these words of caution: Do your own research, only invest what you can afford, and make good decisions. The indicators contained in this article will hopefully help in this. Remember though, the content of this article is for information purposes only and is not investment advice or any form of recommendation or invitation. The Digital Commonwealth always advises you to obtain your own independent financial advice before investing or trading in cryptocurrency.

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