Markets Update: XRP Briefly Dethrones ETH as Second Largest Crypto

[rhubygold23]

The cryptocurrency markets have produced a significant rally today – with just three of the top fifty crypto markets by capitalization posting losses for the last 24 hours of trade action as of this writing. The most notable gainer has been XRP – gaining over 50% in the last day to overtake ETH as the second largest cryptocurrency by market capitalization.

Also Read: China Updates Crypto Rankings, Downgrades Bitcoin

BTC Break Above Resistance at $6,500 USD
BTC has broken above the $6,500 resistance area, following roughly two weeks of sideways price action between approximately $6,000 and $6,500.

As of this writing, BTC is trading for approximately $6,700 after appearing to establish roughly $6,800 as local resistance when looking at intraday price action. BTC has gained roughly 4% in the last 24 hours.

Looking at the stochastic RSI on the weekly charts shows that momentum is coiling into an increasingly tightening mid-level range – suggesting that the markets may be primed for a strong move in either direction.

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THIS IS THE SOURCE: https://news.bitcoin.com/markets-update-xrp-dethrones-eth-second-largest-crypto/