Home / Altcoins / Bitcoin Touched $19K: Ripple Explodes 25% To New 2020 High (Market Watch)

Bitcoin Touched $19K: Ripple Explodes 25% To New 2020 High (Market Watch)

Summary:
Bitcoin initiated another impressive leg that resulted in charting a fresh new 35-month high at nearly ,000. Only a few percentages from December 2017 all-time high. The altcoins have also painted notable price pumps, including a 25% surge for Ripple.Bitcoin Is Less Than K From Its ATHJust about five days ago, Bitcoin was struggling with decisively overcoming the ,000 price tag. However, the primary cryptocurrency went on a roll since then, which drove it to ,500 a few days ago. This became the highest price BTC had reached since January 2018.Bitcoin’s volatility came to play again, as the asset retested ,400 before getting back above ,000. The situation accelerated yesterday. BTC was hovering just above ,000 before the bulls stepped up and drove BTC firstly to the

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Bitcoin initiated another impressive leg that resulted in charting a fresh new 35-month high at nearly $19,000. Only a few percentages from December 2017 all-time high. The altcoins have also painted notable price pumps, including a 25% surge for Ripple.

Bitcoin Is Less Than $1K From Its ATH

Just about five days ago, Bitcoin was struggling with decisively overcoming the $16,000 price tag. However, the primary cryptocurrency went on a roll since then, which drove it to $18,500 a few days ago. This became the highest price BTC had reached since January 2018.

Bitcoin’s volatility came to play again, as the asset retested $17,400 before getting back above $18,000. The situation accelerated yesterday. BTC was hovering just above $18,000 before the bulls stepped up and drove BTC firstly to the highest price since December 2017, as of now, at nearly $19,000.

From a technical analysis point of view, before BTC eventually reaches price discovery above $20,000, it would have to fight off the resistance lines at $18,950, $19,400, and $19,660. As of now, it seems like nothing can stop Bitcoin. Alternatively, BTC might rely on $18,500, $18,200, and $18,000 as support in case of a correction.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

XRP Time: Ripple Leads The Altcoin Explosion

The alternative coins have followed, and some have even outperformed BTC’s latest price developments. Ripple is the most impressive gainer from the larger-cap altcoins. XRP has surged by 24% in a day and neared $0.38 as of writing these lines. This is XRP’s highest price level since June 2019.

Cardano has also experienced a significant price increase of over 15%. As a result, ADA has surged above $0.12.

Ethereum has jumped by 3% to its fresh 2020 high above $515. Bitcoin Cash (6%), Binance Coin (2.5%), Chainlink (3%), Polkadot (3%), and Litecoin (2.5%) are also in the green from the top 10.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto

Further double-digit gains are evident from NEAR Protocol (23%), OMG Network (23%), Algorand (14%), Stellar (13%), Balancer (13%), NEM (12%), IOTA (12%), Crypto.com Coin (11%), and Reserve Rights (10%).

Consequently, the total market cap has risen to $530 billion. The cumulative market capitalization of all cryptocurrency assets has added $160 billion in a month.

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