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We can clearly see Litecoin dropping into the support at the $130 level over the past few days. Litecoin had held very strong at this level of support, which is where the rebound has occurred. Litecoin has now increased slightly as it trades close to the $140 resistance level.
XRP has now seen a price increase above the $0.4 level, following the recent positive performance displayed by the cryptocurrency market. The weekly opening hit a high of around $0.472, and trading has currently stabilized around the $0.43 level. XRP trading continues to maintain a bull flag pattern for the past month.
Blockchain-powered fintech startup Ripple has invested $50 million into publicly-traded money transfer company Moneygram. As it turns out, the persistent rumors about Ripple planning to acquire MoneyGram were not entirely unfounded, but held a grain of truth.
As we reach the middle of June and also the halfway point of the year, this week’s choices are set to benefit from increased trading activity and speculation as the result of significant developments and potential project upgrades and announcements that should strengthen their market positions and also result in increased amounts of attention to their respective currencies over the coming weeks.
XRP has seen a modest rise above the $0.4 level in the recent green market, showing signs of bull dominance. In addition, the third largest cryptocurrency has kept following the bullish flag pattern as the price action remains within the white trend lines. After testing the 50 level, the daily RSI has appeared rebounding high.
While trading within a channel formation, Ethereum saw seven days of bullish action after dropping to the $225 area on June 9. Now that the token has touched the $280 level, where the upper channel lies, we can expect a price rejection to test the $250 support. In fact, the daily Stochastic RSI is almost reaching the overbought territory, signaling that a potential drop may be around the corner.
It has been a quite impressive performance for Bitcoin in the past five days as the leading cryptocurrency made a significant move to $9,400 yesterday, marking a new high for 2019. The recent positive move can be attributed to the June 13 surge above the $8,000. The bullish scenario was revealed on both the daily RSI and the Stochastic RSI.
For the past two months, Monero has been following a bullish sentiment as the cryptocurrency trades within an ascending channel. After testing $100 in late May, Monero's price dropped to the $80 area, where the lower channel lies.
BNB has continued to perform impressively since the token began the positive move from around $5 just before December last year. In May, Binance Coin established a new all-time high at $38.8 before retracing to $29 earlier this month. The token has now leveled up trading close to the $33.8.
Litecoin has continued its aggressive bull run after increasing by a further 6.21% over the past 24 hours of trading, bringing the current price for the coin up to around $135. The cryptocurrency has now seen a 32% price increase over the past 7 trading days alone.
