The crypto market is staging a sharp comeback today, with total market capitalization climbing back above $2.3 trillion. After days of heavy selling and extreme fear, buyers have stepped in, pushing major cryptocurrencies higher across the board.

So what is driving the rally in Bitcoin, Ethereum, and XRP and why are altcoins suddenly flashing green?

Here is a simple breakdown of what is happening.

1. A Technical Bounce From “Extreme Fear”

The biggest reason behind today’s price jump is a technical rebound.

The Crypto Fear and Greed Index recently dropped to 16, deep in “extreme fear” territory. Historically, when sentiment becomes this negative, markets often see a relief rally because prices are considered oversold.

The total…