The cryptocurrency market is witnessing a robust recovery led by Ethereum and XRP, coupled with Litecoin’s exceptional gains amidst broad-based rallies and institutional interest. Major digital assets posted significant advances as market capitalization increased by 2.01% to $3.76 trillion.
Ethereum spearheaded the rally by surging 4.36% to $3,650, decisively breaching the $3,600 resistance level. The breakout is bolstered by bullish technical indicators including strong positioning above both the 50-day and 200-day Exponential Moving Averages and an Average Directional Index (ADX) reading of 40, signaling powerful upward momentum. Key technical levels now place support at $3,600 and resistance at $4,103.
XRP climbed 2.83% to $3.04 amid escalating institutional interest and exchange-traded fund (ETF) speculation. Technical analysis reveals supportive conditions with an ADX level of 34 and constructive EMA patterns, suggesting potential for extended gains. Technical thresholds show critical support at $2.95 and resistance at $3.70.
Litecoin emerged as the top performer among major cryptocurrencies with an 8.72% surge to $119.11. This substantial jump is fueled by bullish EMA formations and heightened optimism surrounding potential ETF approval, reinforced by momentum indicators including an ADX approaching 25 and Relative Strength Index (RSI) reading of 68.
Bitcoin provided foundational stability with a 1% rise to $114,798, enabling altcoins to extend their rallies across the market.