Six of the top 10 cryptocurrencies, led by Dogecoin, Bitcoin and Cardano, traded high at IST in 9.30 hours. However, Solana returned to an ascending orbit and zoomed over by 18%.
The market capitalization of global cryptocurrencies was flat at $ 2.23 trillion compared to the previous day. Similarly, the total crypto market has reached up to $ 127.68 billion.
The last 24 hours have been another exciting day for crypto investors as Bitcoin has surpassed the $ 50,000 psychological resistance level. Mudrex CEO and co-founder Edul Patel, the second outbreak in the last 30 days, shows a growing bullish presence.
Bitcoin once again broke through the major $ 50,000 level as the wider crypto market continued to recover before profit stealing wiped out profits from numerouno digital tokens.
“Ether, the largest altcoin, has also burned to the $ 3,800 level, but since then most cryptos have been consolidated, followed by a small profit,” he added.
Meanwhile, the Indian government is planning to define cryptocurrencies with a new bill that also proposes to segment cryptocurrencies based on use cases, three people familiar with the development told ET.
TechView by ZebPay Trade Desk
In an ongoing court battle between the SEC and Ripple Labs, the judge upheld the latter and approved a request for “fair use” access to internal documents from US regulatory agencies. As it surpassed $ 1.29 yesterday, this has led to a significant increase in wealth.
XRP has also witnessed a surge in volume and is now green in multiple trading sessions. The rally is likely to continue as major altcoins are on the rise, and the $ 1.60 level is likely to be achievable.
XRP has witnessed a massive rise, jumping almost 161% from $ 0.516 to the recent high of $ 1.349. Following this move, assets resisted near a significant level of $ 1.4 (61.8% Fibonacci retracement level) and were revised by almost 22%.
XRP has strong support of around $ 1.04 and will rebound as bulls are about to resume rising every time the price falls at this level. If the price breaks and surpasses the $ 1.4 resistance, another rise is expected and XRP could skyrocket to $ 1.65.
support: $ 1.04, $ 0.85
resistance: $ 1.4, $ 1.65
The time is UTC and the daily time frame is from 12:00 AM to 12:00 PM UTC.
(The views and recommendations in this section are those of the analyst themselves and do not represent those of ETMarkets.com. Please consult your financial adviser before taking a position on the listed assets. )