Ripple is looking like the most advanced Cryptocurrency after having risen strongly during the weekend. Cryptocurrencies have started the week going up, showing much improved specialized pictures across the panel.
Ripple broke above $1. 20 during the weekend but was incapable of consolidating to that level and has retraced somewhat down to $1. 06. From last Feb 6th, XRP/USD has increased a whooping 100%, pursuing a trend-line contained in lows now sitting around $0. 97. Below that level, the bullish impetus would banish, opening opportunities for a new bearish leg. On the benefit, first resistance is located at this past weekend highs, at $1. 2268, followed by upper objectives at $1. 382 and $1. 552.
Bitcoin is rising over 8% on the day and boosts considerably the chances of bullish moves in the upcoming sessions. Over the weekend, BTC/USD traded quickly above $9000, where it left an ugly bearish turning formation that strains the value of $9075 as the first bullish goal. The current area has the exact trend series coming from highs and the 23. 6% Fibonacci retracement since the perfect highs from last Dec
If that level is broken, Bitcoin would get into a congestion area that extends itself way over $13500-$14000. We should expect erratic moves hidden inside those levels.
Ethereum is losing its edge against Bitcoin. After practicallytwo months of outperforming BTC as the point of reference in the Crypto sphere, it looks like Bitcoin is about to take its leading role back again in this important Cryptocurrency cross. ETH/BTC is attaining more and more interest from an analyst point of view, as if it has a strong relationship to the standard Cryptocurrency markets behaviour.
