Ethereum’s bullish turn and recent foray over $2,000 did not see the same cascade impact as Bitcoin’s market activity typically would. However, close to ETH, a few alts swam against the broader market’s sideways tide to report gains on their price charts. XRP, Dash, and Decred were among them, with both of these altcoins increasing in value over the last 48 hours considering Bitcoin’s consistent consolidation below $60,000.
DASH, one of the market’s premier privacy coins, has been climbing the charts recently, just like XRP before it, due to a strong bullish uptrend. In fact, after some brief corrections, the alt was observed to have risen by more than 12% in 48 hours. It’s worth noting here that the cryptocurrency’s most recent movements have been followed by dramatic increases in market levels.
Furthermore, the alt’s motions corresponded to what was predicted in a previous study.
While the mouth of the Bollinger Bands was widening to predict a degree of near term market uncertainty, the Relative Strength Index was skirting the overbought region, highlighting the extent of the privacy coin’s recent bullishness.
Decred, the cryptocurrency ranked 52nd on CoinMarketCap at the time of publication, was already nearing the end of an uptrend. However, the size of the rise in its value was not as drastic as that seen with XRP and DASH before it. Indeed, at the time of publishing, the alt’s market growth seemed to be stalling, with the crypto’s technical indicators indicating that bears were regaining power as well.
Although the Amazing Oscillator showed bearish signals on the histogram, the MACD line shifted below the Signal line after a bearish crossover on the charts. With the two diverging at the time of publication, it seemed unlikely that DCR’s previous uptrend would return anytime soon.
If a recent interview is to be believed, Decred has seen a surge in popularity lately in countries like Brazil. Whether the said interest has translated into the aforementioned growth in value, however, is uncertain.
XRP, once one of the market’s top three cryptos, is no longer in that position, with dropping volumes and valuations as a result of an SEC-filed complaint in December having very significant consequences for the altcoin in recent months. However, contrary to popular belief, XRP has not sunk to 0. Instead, it has remained stable. Indeed, XRP has risen over the last 48 hours, with the alt up by nearly 14 percent.
As previously said, XRP has been one of the few alts, like ETH, to recently ascend on the price charts, with the size of the alt’s uptrend observed to be reasonably sharp as well.
Looking at the altcoin’s technical indicators, the dotted markers of the Parabolic SAR were just below the price candles, and the Chaikin Money Flow was keeping steady above nil.
There is a lot of confusion surrounding Ripple and XRP as a result of the above lawsuit. Brad Garlinghouse recently attempted to explain what will happen if the company lost the same, saying that Ripple is open to “contingency plans” and “alternative solutions,” which may entail replacing XRP in the United States if necessary.
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