Crypto Market Update: Ethereum (ETH), Bitcoin (BTC) and XRP
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Crypto Market Update: Ethereum (ETH), Bitcoin (BTC) and XRP

December 28, 2020      Jafrin Ahmed

In the past few days, Bitcoin (BTC) price has been on a continual rally. Earlier today, the price of the cryptocurrency soared high above $28,000 before correcting lower. Ethereum (ETH) too had a positive performance while breaking the $680 and $700 resistance levels. Meanwhile, XRP is still struggling for a positive performance and currently trading below the $0.300 level.

Crypto Market Update: Bitcoin (BTC) and Ethereum (ETH) Price

Bitcoin has gained bullish momentum above $27,500 and $28,000 after clearing the $27,000 level. Bitcoin’s price has traded to a record-breaking all-time high above $28,300 before retreating to a downwards correction. The price of the cryptocurrency spiked below $27,000 and tested for $26,000 support.

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The cryptocurrency is currently trading above $26,800. If the bullish momentum continues, there are chances of a steady rise above the $27,400 and $27,500 levels. The next major resistance for Bitcoin sits near the $28,000 level.

Ethereum (ETH) too had a positive performance while rallying over 10% to clear the $680 and $700 resistance levels. The cryptocurrency did test the $720 zone and is currently consolidating gains. There seems to be an immediate resistance near the $720.

The upwards movement of the cryptocurrency could lead towards the $735 and $750 levels. An initial support on the downside is near the $688 level while major support sits near the $680 level.

Crypto Market Update: XRP and Altcoins

Meanwhile, the price of XRP has failed to stay above $0.320 and $0.300 support levels. The controversial altcoin is now trading below the $0.300 level with an approaching $0.280 level.

Further price loss could lead the price towards the $0.275 and $0.274 support levels. While, in the event of an extended rally, XRP’s price could test resistance at $0.32. The second major resistance sits at $0.3326.

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Major altcoins are struggling to gain bullish momentum, including Litecoin, DOT, ADA, and XMR. Meanwhile, over the past few hours, a few altcoins seemed to have gained over 5%, including LINK, RUNE, DCR, UNI, ZEN, OCEAN, and KSM. Above all, LINK rallied almost 10% while breaking the $12.20 resistance.

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Jafrin Ahmed
Jafrin Ahmed

Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Being a HODLer she takes a keen interest in following the volatile Bitcoin charts. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.