The digital asset market is now on a full-blown altcoin season. This time around the rally isn’t led by the price of Bitcoin. The price of Ethereum and that of XRP is reportedly leading the charge today. The price of Bitcoin went up by an impressive 58% in the last 30 days to stay above the $8,000 price position. BTC is currently trading a little above $8,000 after a successful 30 days. The leading asset class has added no less than $2,000 on its value from last week. But as the day began the Price of XRP and Ethereum have shown the way.
The Price of XRP Has Gained 15% in the Last 24 Hours – XRP/USD Live Price
The price of XRP has added 17% in the last 24 hours of trade, while Ethereum is up by some 8%. Both tokens are recording year-to-date highs in the last few days.
Following a strong period for Bitcoin, the price of BTC appears to have slowed down in its upward surge. Bitcoin, which had increased to $8,300 earlier in the week, may have found support above $8,000. It has now settled above $8,100. In the last few hours, there was a change in price movement.
This change is huge and could trigger the coming of an Altseason. Though the price of Bitcoin has slowed down as the digital asset is only recording marginal changes as of press time, altcoins, on the other hand, are recording massive gains. Leading the coin’s is ETH and XRP. Both assets are recording double-figure gains.
The Price of Ethereum Has Gained 17% in the Last 24 Hours – Ethereum Price Prediction – Ethereum Price Forecast
As of press time according to CoinMarketCap, the price of Ethereum is up by 17%. The price of XRP is up by 8%. XRP and Ethereum are the best coins today and it appears that their performance has impacted the market.
Altcoins like Litecoin, Stellar, BNB, Cardano, and Tron are also recording gains in double-digits. As of the time this content was published, Stellar was the highest gainer of the listed coins after it managed to surge by 24%. This move has seen the total market capitalization climb $250 billion (and it is heading towards $300 billion).
XRP and Ether Price Extend Bullish Pattern – XRP Price Prediction – XRP Price Forecast
For the price of XRP, the bullish movement is actually an extension of a spectacular move from this Tuesday. The price of XRP surged by 25% on Tuesday alone. This saw its price climb from $0.31 to $0.42 on Tuesday. With the latest price gains for XRP, the coin has successfully climbed above $0.45. It is on course to test $0.50.
As for the price of Ethereum, the digital asset has recently strengthened its position over the $250 price position. The coin should cross above $300 a position it will be looking to find support above.
With the recent move by altcoins, Bitcoin’s dominance will drop, and we will see investors taking positions with altcoins. Many may assume that such a scenario will affect the price of Bitcoin because the recent BTC bullish run will stop. Although this is unlikely to cause a downward trend for the price of Bitcoin because the market leader is already holding a strong position above the rest.