Ripple, Bitcoin and Litecoin making the biggest gains on the market
XRP is up 10,72%, BTC 5,02% and LTC 4,24%
Markets are smiling for those three cryptocurrencies in a day in which the bitcoin news stay on the margin. But the topic of the day should be Ripple reaching 10 billion dollars’ market capitalization.
Ripple started the day with a low trade volume and buyers appeared five hours later taking the price from 0.24 to 0.267 US Dollars in a few hours, touching a resistance level reached before on August 31st. At the moment, the trade volume returned to pre peak levels with a moderate upward trend which could eventually test again the resistance. With this price increase, Ripple crossed the 10 billion dollars’ barrier market capitalization and is the third cryptocurrency with the most market share.
Bitcoin had a similar day as Ripple. At the beginning there was a low trade volume. Later on, the buyers made their appearance taking the price of Bitcoin to $4610 US dollars.
The last hours of October 7th a strong move up on the market increased the Bitcoin price from $4350 to $4450 in just 45 minutes. This change in the price permitted the currency to cross a resistance level around $4365 which has been tested several times before and broken for days only when Bitcoin arrived at $5000.
At the moment, we can see an uptrend that could in the future try to break another resistance bar at $4700 or stay below it at least for some time. At the moment, Bitcoin is 5,02% up.
Litecoin has had today the highest buying volume since September 27th. We can appreciate that with a 4,24% growth Litecoin breaks a downtrend that started one and a half week ago. There was an interesting playoff in the limit of the resistance level of the downtrend, but buyers appeared like in Ripple and Bitcoin and let the price grow from $52.4 to $54.825 in 5 hours.
We need to wait until we will see if the breakout through this resistance level was strong enough to start an uptrend that could bring the price of Litecoin to around $56 in the next ten days.
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