The crypto market is making gains for another day with altcoins dominating once again. Today, it is XRP making double digits.
The crypto market is having a seven-week high today with A total market capitalization touching US$226 billion[AU$345.58 billion] for the first time since mid-March.
Around $4 billion has been added over the past 24 days as prices slowly and steadily grind higher.
Ripple’s XRP token is leading the charge today with a 10% pump taking it to reach an intraday high of $0.218.
— JC Crypto ???????? (@jcloete19) April 28, 2020
XRP has now almost fully recovered from the March Covid-crash but is still heavily down from its lofty highs a couple of years ago.
A Japanese banking partnership with a focus on digital payments and a mention of the Ripple token appears to be driving momentum today.
Bitcoin has also reached a new monthly high touching $7,880 a couple of hours ago during Asian trading.
This is exactly where the 200-day moving average lies so a push above that could result in a rapid move back to $8,000.
Ethereum has also reclaimed $200 which is serving as a heavy resistance. Other altcoins performing well today include Litecoin and Tron.
Aside from XRP, gains are marginal but green is the dominant color once again.
Image courtesy of manfredrichter/Pixabay