The crypto-verse was being pulled apart by the bull and the bear. The bears were slowly entering the markets of coins like XRP, while it had already taken over assets like Ethereum [ETH], Uniswap [UNI] as well as Bitcoin [BTC].
Bitcoin [BTC] dipped down $45K and did not land too far away. The king coin, at press time, was trading for $44,504 with a 3.37% dip in the last 24-hours. The market cap of the asset witnessed a dainty fall since yesterday. Ethereum [ETH] was undergoing a similar notion, however, it established a stronghold on $3K.
XRP stunned the entire market by surging to a high of $1. The bulls were kind enough to carry the asset on to this level. However, this didn’t seem to last for too long as it slipped back below $1. At the time of writing, XRP was trading for $0.968 with a 10% surge over the last 24-hours. Almost every asset in the market bagged significant gains over the last couple of days and so did XRP. The altcoin managed to secure a total of 37% profits over the previous seven days.
The altcoin managed to retain itself over Dogecoin [DOGE] in terms of market cap. The asset stood as the sixth-largest cryptocurrency with a market cap of $44.88 billion.
XRP one-hour price chart on Binance
The short-term price chart of the altcoin noticed the emergence of the bear. The short-term bears were on to the market as the bulls were slowly bidding adieu. The Bollinger Bands indicator diverged for a long time all through yesterday and was seen converging during press time. This further indicated decreased volatility. The MACD line plummeted below the signal line further forming a bearish crossover.
Additionally, the Relative Strength Index [RSI] indicator was seen exactly on the 50 median. However, it was headed towards the sellers’ market.