The total crypto market cap increased by $5 billion since April 12 and now stands at $176.6. The top ten cryptocurrencies are all in the green for the 24-hour period with ether (ETH), bitcoin cash (BCH), and litecoin (LTC) up by 9.1 percent and 8.6 percent respectively. At the time of writing, bitcoin (BTC) is trading at $5,197, ether at $169, and Ripple’s XRP remains at $0.33
Bitcoin was trading in the narrow price corridor between $5,160 to $5,050 during the weekend of April 13 to 14. The most popular cryptocurrency peaked at $5,313 on April 8 and since then has been on a downtrend. Bulls are still able to hold above the psychological level of $5,000 for the time being. The BTC/USD pair was flat for the seven-day period.
Ether is also on its way down since it reached a yearly high of $181 on April 8. It dropped to $165 on April 13 after four consecutive days of losses. The ETH/USD was down 3.4 percent for the last seven days.
The entire crypto market was in red on that day, but the XRP/USD pair was hit particularly hard during the session. It moved below the 38.20 percent Fibonacci retracement level and was dangerously close to the important support at $0.32.
On April 12, the coin declined further and formed a second straight red candle on the daily chart at $0.327. XRP continued to trade as low as $0.318 intraday.