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Bitcoin [BTC], XRP, Ethereum [ETH] begin volley of attacks against the bear: Castle of red crumbles

Anirudh VK



Source: Unsplash

The cryptocurrency market has begun to beat back an attack against the bear yet again, as it is now recovering with single digit growth. The past week has been a tough one for top cryptocurrencies Bitcoin [BTC], XRP, and Ethereum [ETH], with the coins demonstrating loss percentages of 3.7%, 7.7% and 4.3% respectively.

The top cryptocurrency has recently broken out of the sideways movement that it has been undergoing since the past 2 days, with an upward tick towards the $4150 mark after trading around the $4000 level. This comes after a drop from the $4200 mark saw the coin slide to the low $4000s. The coin saw a high of $4410 this week on November 29th and a low of $3600 on November 25th.

XRP, the #2 cryptocurrency, was trading at around the $0.40 mark at the beginning of the week, before seeing a downslide to the $0.32 level. This was then followed by a hike to $0.40 again on November 29th, marking its high this week, before dropping to $0.35. This was then followed by sideways movement until the current time, where the coin is now contesting the $0.40 mark yet again.

Ethereum has had a rough week, trading in between $100 and $125 this week, with the lowest on November 25th. The coin found a bottom on its downslide over 24th and 25th at $100, its lowest price this year. The coin saw a high of $125 on November 29th, the momentum from which has seen it go back to below the $120 mark.

It seems to be trying to take back the $120 zone as seen by today’s hike, breaking out of the largely restrained movement over the week except for a drop to $100 on November 25th.

The bear seems to be moving away from the market, giving the bulls a chance to take back the momentum and give HODLers what they were waiting for.

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Anirudh VK is a full-time journalist at AMBCrypto. He has a passion for writing and interest towards the future of blockchain technology and cryptocurrencies. He does not own any cryptocurrencies currently.