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Top Gainers: XRP leads market rally as Ethereum [ETH], TRON [TRX], Cardano [ADA] follow suit

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Top Gainers: XRP leads market rally as Ethereum [ETH], TRON [TRX], Cardano [ADA] not far behind
Source: Pixabay

With Blockchain week in full swing and several announcements buoying the market, the overall capitalization surged over $245 billion for the first time in months. At the head of this rally is XRP, which is making immense gains after trailing competing coins for most of 2019.

Not far behind the second largest altcoin in the market are Ethereum [ETH], TRON [TRX], Cardano [ADA] and Stellar Lumens [XLM]. The Consensus bulls, as it did over previous years, have pushed the market up while announcements from Bakkt and Coinbase have also spurred growth.

Source: Trading View

XRP, on the back of Coinbase approving the cryptocurrency for New York trading, surged by over 5 percent in an hour, earlier today. At press time, it still led the market with a 12.08 percent gain over a 24-hour period. Beginning to rise at 0030 UTC on 14 May, the coin was priced at $0.323 and pumped by 20.69 percent to reach $0.414, before falling back to $0.384.

The next surge began at 2100 on the same day, with the coin pushing up from $0.384 to $0.438. The market cap of the cryptocurrency rose by $4.5 billion and at press time, stood at $18.22 billion. BW.com took the top spot for XRP volume by holding 11.22 percent, while Binance, the only exchange in the top 10 with “real volume,” took the ninth spot with only 2.05 percent XRP trade volume.

Source: Trading View

Ethereum, following last week’s massive pump over a rumored CFTC blessing regarding the ETF, began this week with an 8.94 percent pump against the US Dollar. Over the next two days, Ether breached $200 on the back of a 34.73 percent rise and was priced at $225.30, with a market cap of $24.17 billion. ZBG took the top spot in ETH volume, accounting for 4.27 percent of total volume, while Binance held the highest “real volume,” at the 27th spot with 1.28 percent ETH trade.

Source: Trading View

Following Justin Sun’s Tesla promise ‘fulfilment,’ Tron joined the market pump and rose by 9.64 percent. After dropping to $0.022 on May 10, TRX surged by 27.2 percent and was trading at $0.0288. The market cap of the coin stood at $1.92 billion. CoinTiger was the top exchange in terms of TRX volume, with the pair ETH/TRX accounting for 8.43 percent of the global volume. Binance, once again, is the highest ranking “real” exchange, on the 12th spot and holding 2.75 percent of volume in the USDT pair.



Cardano and Stellar Lumens were other top gainers in the market, recording 8.45 percent and 8.96 percent gains over a 24-hour period. Ranked 9th and 10th respectively, the two coins were separated by only $70 million market cap. Stellar was trading at $0.121, while ADA’s press time price was $0.086.

It should be noted that the only non-stablecoin that is trading in the red in the top-10 is Bitcoin Cash, which is likely down to correction since the cryptocurrency saw a massive rise over the past 48 hours.





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Analysis

Bitcoin[BTC] and Litecoin[LTC] Price Analysis: King coin to recover from fall, LTC could follow suit

Rishi Raj

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Bitcoin[BTC] and Litecoin[LTC] Price Analysis: King coin recovers from the fall, LTC follows the suit
Source: Pixabay

Following a massive sell order on BitStamp exchange on 16 May 2019, Bitcoin saw a drastic fall to a low of $6,192. The king coin regained its momentum from the fall and was priced at $7,419, with a market cap of $131 billion. The 24-hour trade volume came up to $27 billion, out of which BitMex contributed 12.70% via the XBT/USD pair.

Litecoin, the silver to Bitcoin’s gold, was priced at $88.72 with a market cap of $5.48 billion. The 24-hour trade volume came up to  $4.8 billion, out of which, Coineal contributed 10.56% via LTC/BTC pair.

1-Day BTC

Source: TradingView

The one-day chart of BTC showed an uptrend from $4272.43 to $8107.83. The support points were seen at $3,159.65 and 5,004.95 and resistance was at $8206.27

The Relative Strength Index showed a bullish trend as it was exhibiting tremendous buying pressure.

The Chaikin Money Flow displayed the massive inflow of capital into the market.

The MACD indicator showed a bullish crossover.

1-Day LTC

Source: TradingView

The one-day chart of LTC showed an uptrend from $42.27 to $92.92. The support points were at $22.67 and $29.94 and the resistance points were at $102.15 and $92.39.

The Parabolic SAR showed a bullish trend as the dotted markers were under the candles.

The MACD indicator showed a bullish crossover.

The Chaikin Money Flow was seen to be at zero, indicating an equilibrium between money inflow and outflow.



Conclusion

The one-day chart of BTC showed a bullish trend as indicated by the aforementioned indicators. The same can be said about LTC.





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