Tag: bitcoin ripple ethereum daily crypto

The cryptocurrency market was slowly bleeding out in the past 24 hours. Most cryptocurrencies ended up being in the red. If we take a look at the past 24 hours, Bitcoin went down 0.57%, and it is now trading at $8,072. Ethereum lost 1.17%, while XRP went down 1.71%.

Of the top100 cryptocurrencies by market cap, the biggest gainer is EDC Blockchain, with 30.61% daily gain. The biggest loser of the day was Komodo, which lost 10.51% of its value.

Bitcoin’s dominance increased to over 66% as the market lost a bit more value than Bitcoin itself. Its dominance now sits at 66.02%.

The cryptocurrency market as a whole now has a market capitalization of $219.41 billion, which represents a slight decrease when compared to the value it had yesterday.

What happened in the past 24 hours

Cryptocurrency forensics and analysis firm Elliptic managed to put together a case on $400 million of XRP’s funds. Allegedly, about $400 million worth XRP ended up being used for illegal transactions.

In a press release published on Nov 20, Elliptic said that the $400m of illicit XRP activity  represents just a bit less than 0.2% of total XRP transactions. They also said that the vast majority of XRP activity is legitimate as this is all they could find.

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Technical analysis

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Bitcoin

Bitcoin had a red day today. However, it did not lose as much as most of the market. The price managed to stabilize above $8,000 resistance line as this key level ended up being well-respected by the market. The price is currently walking on the edge and anchoring to the key level, so any form of bear presence might threaten Bitcoin’s price above $8,000.

Bitcoin’s volume is continuing to gradually decrease from the big drop in price. Its RSI level is in the oversold territory for some time now.

Key levels to the upside                   Key levels to the downside

1: $8,425                                           1: $8,000

2: $8,640

3: $8,820                                       

Ethereum

Ethereum spent the day trading just below its immediate resistance, but could not break it. The price broke the $178.6 key support level and is currently trading below it, as bears are threatening with a move to the upside. However, the volume is not showing any initiative from the bull side.

The critical level of $178.6 moved to the upside as the price went below it. Likely, Ethereum won’t manage to go above this level in the short future as its volume and bull presence, in general, are not there.

Key levels to the upside                   Key levels to the downside

1: 178.6                                             1: $167.8

2: $185

3: $193.5

XRP

XRP’s ranging movements are continuing today as well. After its price fell to its key support level of $0.245, bulls kicked in and kept the price above it. XRP is currently trading near the bottom of the range, stuck between the 0.245 support line and the 0.266 resistance line.

Both support and resistance levels seem to have been well-respected by the bulls and bears, which indicates that XRP might stay in this range for some time. The key levels remain the same as they were as XRP didn’t pass any key levels up or down.

Key levels to the upside                   Key levels to the downside

1: $0.266                                           1: $0.245

2: $0.285

3: $0.31

The cryptocurrency market suffered some losses in the past 24 hours. Every cryptocurrency in the top10 lost a percentage of its value. If we take a look at the past 24 hours, Bitcoin went down 1.21%, and it is now trading at $8,564. Ethereum lost 1.89%, while XRP went down 2.22%.

Of the top100 cryptocurrencies by market cap, the biggest gainer is Verge, with 26.34% daily gain. The biggest loser of the day was Icon, which lost 7.83% of its value.

Bitcoin’s dominance remained at the same place from the last time we checked the markets. Its dominance now sits at 65.79%.

The cryptocurrency market as a whole now has a market capitalization of $236.4 billion, which represents a decrease of $3.3 billion from yesterday’s value.

What happened in the past 24 hours

There was no big fundamental news that could spark up any moves to the upside or downside in the past 24 hours. However, due to the lack of volume and inability to reach past some resistances, the cryptocurrency market started to bleed out in the past 24 hours.

This more bearish outlook on the cryptocurrency market resulted in most cryptocurrencies being in the red.On the other hand, many analysts are stating that the soon-to-come US recession might reflect extremely positively on the cyptocurrency market.

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Technical analysis

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Bitcoin

Bitcoin’s price went under a key support level in the past 24 hours. It passed $8,640 to the downside and is now trading at around $8,550 levels. This is a really bad price to be at as threr are no clear-set support lines that the price can anchor to.

Bitcoin’s volume is still extremely low, with RSI touching the oversold territory for a brief moment.

Key levels to the upside                   Key levels to the downside

1: $8,640                                           1: $8,425

2: $8,820

3: $9,120                                         

Ethereum

Ethereum also broke the range it was trading at. Its price was contained within a range between the resistance line of $193.5 and a support line of $185, but the most recent move to the downside broke the $185 support line. The next possible support key level is $178.6.

The key levels remain the same, but the support key level of $185 now became key resistance.

Key levels to the upside                   Key levels to the downside

1: $185                                              1: $178.6

2: $193.5                                           2: $167.8

3: $198

XRP

XRP did not have a good day either. Its price also broke a key support level. The major support level of $0.266 was broken to the downside, and XRP is now trading just under it. XRP’s price is currently hovering at around $0.264. XRP is currently creating a doji candle at the $0.264 level which might signal that bulls are coming in for the rescue.

XRP’s volume has dropped when compared to yesterday’s volume, while its RSI touched the oversold territory.

Key levels to the upside                   Key levels to the downside

1: $0.266                                           1: $0.245

2: $0.285

3: $0.31

The cryptocurrency markets are almost in the same spot as they were yesterday. There were no big moves up in the top3 cryptocurrencies. However, XRP had a pretty rough day, as it lost over 4% in the past 24 hours. Even though most cryptocurrencies are in the red, the losses were extremely small. Bitcoin went down 0.73%, and it is now trading at $9,223. Ethereum lost 1.13%, while XRP went down by 4.03%.

Of the top100 cryptocurrencies by market cap, the biggest gainer is DxChain Token, with 43.07% daily gain. The biggest loser of the day was Decred, which lost 8.15% of its value.

Bitcoin’s dominance increased slightly as some altcoins decreased in value while Bitcoin pretty much stayed at the same spot. However, the increase is only fractional. Its dominance now sits at 66.73%, which represents an increase of 0.14% when compared to yesterday’s value.

As XRP and some other cryptocurrencies had a slight red day, the cryptocurrency market declined slightly. Cryptocurrencies as a whole now have a market capitalization of $252.6 billion, which represents an almost $1.1 billion decrease when compared to the previous day.

What happened in the past 24 hours

Coinbase announced that they will be introducing staking as an incentive for holding a cryptocurrency. The first cryptocurrency that will be available for staking at Coinbase will be Tezos (XTZ) token.

Coinbase said U.S. customers (excluding residents of Hawaii and New York) can now stake Tezos with an estimated 5% annual return. The estimate of 5 percent is based on Tezos’ staking returns in the past three months. One thing to note is that there will be an initial holding period of 35–40 days. After the holding period is done, stakers will earn rewards for holding the cryptocurrency. The rewards will be paid every three days.

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Technical analysis

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Bitcoin

Slight decrease in volume was enough to put Bitcoin below the $9,250 support line, which now turned resistance. Once the price went below the line, the momentum tried to push it below the small $9,125 support line. However, bulls rallied and managed to keep the price above that point. Bitcoin is now trading at $9,223 which is just slightly less than how much it was trading for at 24 hours ago.

Bitcoin’s volume has decreased slightly in the past 24 hours. One change in the key levels is that the previous support line of $9,250 now acts as resistance.

Key levels to the upside                   Key levels to the downside

1: $9,250                                           1: $9,125

2: $9,580                                           2: $8,820

3: $9,740                                           3: $8,640

Ethereum

Ethereum is contained within a range between the resistance line of $193.5 and a support line of $185. After testing the upside on Nov 6 and failing, Ethereum attempted to test the downside. As the price reached $185 line, buyers rallied and brought the price up. Ethereum is now trading for $187.5.

Ethereum’s volume is hitting record lows in the past 24 hours. Without buying or selling pressure, ETH might stay in this price range for quite a long time.

Key levels to the upside                   Key levels to the downside

1: $193.5                                          1: $185

2: $198                                             2: $178.6

3: $163.5                                          3: $167.8

XRP

XRP has had a wild ride in the past 24 hours. After having a major move that brought the price from $0.295 up to $0.315, XRP crashed. Not only that, the bears have brought the price to its original levels, but they were in control until the price reached $0.274. This major and sudden price drop was quickly nullified when the bulls stepped in. XRP is now trading for $0.289.

XRP is currently trading with a volume that exceeds the average by quite a large margin. Its RSI indicator dropped from overbought to the ~40 range.

Key levels to the upside                   Key levels to the downside

1: $0.31                                            1: $0.285

2: $0.325                                          2: $0.266 (major support)

3: $0.333                                          3: $0.245

This weekend has been, unlike the previous one, a pretty stable one price-wise. After a pretty grim-looking situation in the past couple of days, the cryptocurrency markets started to stabilize and then even attempt to make new highs. The past 24 hours have shown us mostly buying pressure and an increase in volume. Most of the top cryptocurrencies are in the green, with Bitcoin leading the path. After the gradual volume decrease during most of the weekend, new money seems to have been coming into the markets.  Bitcoin went up 3.68%, while Ethereum gained 2.47% of its value. XRP managed to gain 2.16%. Bitcoin seems to be leading the way for other cryptocurrencies at the moment.

Bitcoin’s dominance has increased when compared to the percentage before the weekend. It now sits at 66.6%, which represents a 0.05% increase.

Most cryptocurrencies ended up being in the green in the past 24 hours. These movements, of course, increased the value of the cryptocurrency market as a whole. The industry now has a market capitalization of $222.47 billion.

What happened in the past 24 hours

The British parliament voted another put-off on Prime Minister Boris Johnson’s deal, forcing Britain to ask EU for another Brexit delay.

William Thomas, CEO of peer-to-peer exchange Cryptomate, said that, in the event of no-deal being reached by Oct. 31^st, “there will be substantial uncertainty within British and EU financial institutions.” Even though he claimed he is uncertain on how much (and if at all) demand for Bitcoin and cryptocurrency, in general, this will create, he also added, “I would expect to see some upward movement on BTC/GBP markets shortly after the deadline.”

This news could explain a slight increase in Bitcoin’s volume, as well as a slight increase in price and an overall green outlook on the cryptocurrency markets at the moment.

Technical analysis

Bitcoin

As we can see on the chart, Bitcoin has had a stable weekend with one failed attempt to break $8,000 as well as a successful one of doing that. After consolidating between the 0% and 23.6% Fib retracement lines, Bitcoin gained slight momentum and tried to break the resistance line. It did not happen the first time, but it did the second. Bitcoin not only broke the 23.6% line, but it also stormed past the 38.2% Fib retracement line, losing momentum and stopping at the 50% Fib retracement line. Its price is now stabilizing at the $8,200 levels, right above the 38.2% support line.

Bitcoin’s RSI skyrocketed during the price rise before falling under the overbought territory, which is where it’s at currently.

Ethereum

Ethereum is, as we said in our previous articles, extremely correlated to Bitcoin at the moment. Even though it is not entirely mirroring Bitcoin’s moves, Ethereum’s volume seems to be tied to Bitcoin’s volume.

As we can see on the chart, Ethereum (just like Bitcoin) tried to make an upward-facing move towards the 23.6% Fib retracement. The successful attempt, however, did not make Ethereum skyrocket all the way to the 50% retracement. The movement was contained quickly as Ethereum could not break $177.5. It is now consolidating somewhere around $175.

XRP

XRP has had a pretty choppy weekend. As its price could not manage to stay above $0.3, XRP started dropping in price. At one point, it even was priced as low as $0.283. However, the cryptocurrency quickly bounced back up as its volume increased. The upward-facing move was healthy and not as quick as with other cryptocurrencies. The price reached $0.298 but could not reach above that as XRP lost quite a bit of its momentum.

XRP is now fighting to stay above the 50% Fib retracement line. The fight looks like it will not go in favor of XRP at the moment.

The cryptocurrency markets had quite a rough weekend. After a week of making substantial gains, the market started to rebound and go down. It all seemed like most cryptocurrencies found their sweet-spot of consolidation when two significant volume spikes happened. Both of these spikes seemed to have been sellers. During both of these downward-facing moves, RSI dropped from overbought straight down to oversold in a matter of minutes.

Ever since the last solid price jump that happened on October 10th, the volume kept dropping (apart from the sudden and short-lived sell-bursts). One thing to mention is that, before the first major move down, Bitcoin did try to reach a higher price, but got shut down at the price of $8,820, which is when the sellers kicked in. The price reached as low as $8,133 but managed to spring back up and stabilize, at least for a while. If we take a look at the past 24 hours, Bitcoin lost 0.83%, Ethereum gained 0.03%, and XRP went up 0.99%.

Bitcoin has kept its dominance percentage at the same level, which is currently at 66.7%. The market capitalization of the crypto markets decreased significantly over the weekend. However, it is now stabilizing at around $223.85 billion.

Technical Analysis

Bitcoin

Bitcoin has had quite a rough weekend, just like most of the cryptocurrencies. As mentioned above, after the price of $8,820 got rejected, Bitcoin spiraled down to as low as $8,133. Most of the selling pressure happened in two tight time periods. The selling pressure was immense both times, bringing RSI indicator from touching overbought territory to oversold territory. The last move brought Bitcoin’s price below the lower Bollinger Band line, but it quickly rebounded and stabilized. Bitcoin is now trying to go over the immediate resistance, which is standing at $8,300 but is not managing to beat it quite yet.

If we take a more in-depth look at the volume, we can see that it is getting lower and lower after each spike. This is certainly not a good sign for the bulls.

Ethereum

Ethereum is also struggling with recovery after the bears came in during the weekend. Unlike Bitcoin, however, Ethereum had quite a few volume spikes. After not breaking above $198, Ethereum bounced back and quickly dropped to $179. After some consolidation, it even tested the low of $178, but immediately rejected it and moved back up a bit. It is now consolidating just above $181. However, this price is just below the immediate resistance, which is represented by the 23.6% Fib retracement line.

Ethereum is currently in the RSI range of 40 and near the bottom Bollinger Band, which may show us some bullish tendencies due to the lack of bear pressure.

XRP

Unlike Bitcoin and Ethereum, XRP had a different path in the past couple of days. Even though every cryptocurrency is correlated to the moves of Bitcoin, it seems that XRP is a bit different. After not being able to break $0.29 on October 9th, it started to fall down in price. It reached as low as $0.265 but did not manage to find a price to stabilize at. With volume staying at relatively the same levels (apart from a few spikes), XRP did not move decisively up or down. Even its RSI level fluctuations confirm that.

XRP is in the middle of an attempt to break the 61.8% Fib retracement line, which acts as a resistance.