Confident XRP fuels crypto optimism
Market picture
The cryptocurrency market has gained 3% in the last 24 hours to reach the $3.40 trillion level, which has been the centre of the range for the last four weeks. This was a key resistance level at the end of December. Further market movement will be an important sentiment indicator, but we will have to wait until the US inflation data is released.
Bitcoin is also currently undergoing a local test as its price surpasses the $97,000 mark. It is now challenging the 50-day moving average from below, a level it dropped beneath just over a week ago. The rally, with global equity indices relatively neutral, indicates a gradual recovery in risk appetite.
XRP is showing a much more dynamic recovery after the…
