NewsPrice Analysis

Bitcoin Surged nearly 6% in a week, What about ETH and XRP?

Author: Sohrab Khawas

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    • Massive uptrend within the crypto space in the last 24 hours. Major coins like Bitcoin, Ethereum, XRP, etc have surged with impressive gains.

    The major push for the crypto space painted most of the coin in green, with some of them recorded again with a significant margin. The major coins like BTC, ETH, etc had chosen to swing in a very narrow margin, but in the last week, they also jumped drastically. 

    Let us have a look at the price review of major coins

    Bitcoin(BTC) surged 6.8% in a week

    BTC weekly chart

    Bitcoin which was trending in a very narrow range and struggling to reach at least near to the $11000 mark, has now successfully sustained above the mark. The digital asset got a major push in phases that led the bitcoin price to surge above the $11300 range.

    In the last week, bitcoin received an immense push in 3 phases. The first phase assisted the price to overcome the narrow trend and reach near the $10900 range. The second push bought the price above the $11000 mark to touch $11090. And finally, the third pump led the digital asset to surge above $11300 levels.

    Currently, BTC is priced at $11,388.56 with a gain of 0.58 percent in the last 24 hours and expected to soar with a huge price gain. However, the next resistance level is at $11,530 and the support levels are formed at $11,100.

    Also Read: Bitcoin Price Prediction: Will Bitcoin Reach $100,000 By 2020?

    Ethereum(ETH) Gained 5.98%

    ETH weekly chart

    With the bitcoin rally, most of the digital assets soared with good numbers. Ethereum too soared significantly adding up nearly $50. ETH price breaks out of the narrow range to test the resistance levels at $366.64 to form new levels.

    The current price of ETH stands at $374.11 with an increase of 0.89 percent in the last 24 hours. The new resistance levels are formed at $384 and the strong support levels beyond which ETH is expected to sustain is $361.

    Also Read: Will Ethereum Overcome the Recession in 2020?

    XRP up by 1.35%

    Ripple weekly chart

    Ripple’s XRP had managed to soar well before the BTC push from $0.23285 to $0.25438. However, soon after the push, the dumped a little to $0.24660, further again pumped to $0.25929 and dropped to $0.24049.

    Currently, XRP is priced at $0.255053 with a gain of 1.59 percent in the last 24 hours. The resistance levels stand at $0.26002 and the support levels at $0.24385.

    Also Read: Ripple Price Prediction: Will Ripple Reach $5 In 2020?

    Collectively, the crypto space which had entered a correction phase has now attained a bullish trend with most of the coins soar with significant numbers. The trend is expected to continue for more time ahead.

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