XRP is seeing a gradual increase in volume over the last 24 hours. The more than 57% surge has since reflected on price, and recent data shows that the rise is ongoing.
The altcoin had one of its bullish performances last week, gaining over 21%. XRP is off to a good start on Monday, registering notable gains.
Nonetheless, altcoins are leading the latest market increases. Bitcoin remains relatively stable as other assets receive increased liquidity. The altseason indicator is gradually shifting closer to the altcoin side. It has since improved over the last seven days, surging from 32 to 57.
PENGU is the top-performing token in the last 90 days, gaining over 654%. It maintains the same trend in the previous seven days. It is seeing the biggest improvement on Monday, up by 25% as it registers a new all-time high.
Dogwifhat is on the rise again, recording gains exceeding 186% in the last 90 days. The 1-day chart indicates that the uptrend is ongoing, as the memecoin has surged by more than 20% over the past seven days.
The dominant trend during the altseason is a period of BTC consolidation. Other altcoins, such as ETH and XRP, will likely receive more volume, which will reflect in their prices.
The crypto market is off to a strong start, with trading volume surging by 47%. Let’s see how prices may play out in the coming days.
BTC/USD
Bitcoin is off to a good start on Monday. It surged to its highest level in the last three days, reclaiming $119k. The apex coin will look to attempt the $120k resistance. However, price action over the last seven days indicates massive selling congestion around it.
It is worth noting that the most prominent cryptocurrency broke above its bollinger bands last Monday. It currently trades within it at the time of writing. A closer look at the 1-day chart points to further declines. The asset almost always sinks to the middle band after breaking the upper band. A repeat of this event will see BTC sink as low $114k.
The relative strength index points to room for slight increases. It sits at 66, suggesting that a notable upswing will send it above 70, making it overbought.
ETH/USD
Ethereum is struggling to continue its uptick as it faced slight rejections earlier. It is yet to gain any significant price change at the time of writing. Nonetheless, a bullish close on Monday will mark the altcoin’s ninth consecutive day of increases.
It’s lingering close to bollinger’s upper band has sparked fears of an impending decline. The fears are valid as the altcoin risks massive corrections if the bulls fail to sustain the uptick. The indicator suggests a slip to $3,400.
Nonetheless, RSI is another bearish metric. It has been above 70 for most of the last fourteen days, indicating that ETH is overbought. Its current state suggests a significant decline in the days to come.
Nonetheless, data from CoinMarketCap shows that the apex altcoin is seeing significant volume. Current prices suggest that the bulls are getting exhausted. More volume means the asset may experience a considerable swing soon, with indicators favoring a downtrend.
XRP/USD
XRP is one of the top gainers in the top 10 over the last ten hours; it’s up by more than 2%. It trades at $3.54 at the time of writing after a failed attempt at $3.60.
The bollinger band points to a high likelihood of flipping the mark in the coming hours. The metric suggests that the altcoin may retest the upper band at $3.72 after flipping the mark. However, it risks corrections after testing the band.
RSI is at 85, heightening concerns of an impending retracement. Further increases will see the metric soar, surging to new levels not seen in months.
BNB/USD
Binance coin previously retraced to a low of $746 but recovered and peaked at $768. The asset registered a new high but faced slight rejections afterward.
The 1-day chart reveals that it retraced after breaking out of the bollinger bands. It continues to trade outside the bands, suggesting that the asset risks further decline. It is also worth noting that it is overbought at the time of writing.
Nonetheless, previous price movements suggest that the asset will retrace to $720. The asset rebounded around the mark on several occasions. There is no level with demand concentration before this mark.
SOL/USD
Solana is on the verge of registering its second-most-bullish day in the last fourteen days. It opened the day at $181 and shot up, surging to a high of $192. The coin still trades close to the mark, indicating the bulls are trying to continue the uptrend.
Calls for a surge to $200 are reaching a new level. This may be the next level to flip. However, indicators are already blaring warnings. The relative strength index is at 77, indicating that the assets are overbought and due for correction. SOL is trading above its bollinger bands at the time of writing.
DOGE/USD
Like XRP, DOGE registered notable increases on Sunday. It gained a whopping 13% but is having a cooldown at the time of writing.
Nonetheless, it surged higher than the previous day but retraced, dropping to a low of $0.264 afterward. The asset trades above the bollinger bands at the time of writing, suggesting that the decline may worsen.
Additionally, RSI indicates that the asset is overbought. Currently down by almost 2%, previous price movements hint at a decline to $0.250 before rebounding. Failure to defend this mark will result in the asset retracing as low as $0.237.
ADA/USD
Similar to XRP, Cardano is experiencing notable increases at the time of writing. It gained over 3% in the last 10 hours and will look to add more to the tally.
Nonetheless, the asset faced notable corrections around bollinger’s upper band. The asset has since grappled with notable declines. It risks further retracement, with prices indicating a potential drop to $0.80 if the selloff persists.
