XRP rallies but Bitcoin and Ethereum keep their heads down
CRYPTO markets are moving mostly sideways this morning after some pronounced fluctuations over the last week.
Bitcoin is trading horizontally around the $66,100 price range, while Ethereum is following a similar pattern, currently priced around $3,315.
There's some divergence in the alt-coin markets with Solana bouncing 2% overnight, Chainlink and Polkadot dipping further into negative territory, but XRP is among the big movers, rallying 8% overnight.
Some market commentators attribute this to comments made by Ripple Labs CEO Brad Garlinghouse in a Bloomberg TV interview. Garlinghouse stated that he expects a "resolution very soon" on the legal dispute between the US Securities and Exchange Commission (SEC) and Ripple.
In the Markets
Total crypto market cap
$2.39 trillion (-0.38%)
What Bitcoin did yesterday
Daily high $66,998 | Daily low $65,328
Bitcoin market capitalisation
$1.3 trillion (-0.85%)
Bitcoin volume
$28.7 billion (-27%)
CoinDesk Large Cap Select Index
-0.76%
The CoinDesk Large Cap Select Index (DLCS) measures the market cap weighted performance of some of the largest cryptocurrencies and gives a general indication of the overall performance of the crypto market.
SP500
-0.5%
Fear and Greed Index
60 (Neutral)
The Fear and Greed Index measures volatility, market momentum/ volume, social media, surveys, dominance, and Google search trends to gauge market sentiment.
Bitcoin’s market dominance
55.94
The Bitcoin Market Dominance indicator measures the percentage of total cryptocurrency market capitalisation represented by Bitcoin at a given time.
Bitcoin Relative Strength Index (RSI)
55.31
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.
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.
