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Bitcoin’s (BTC) price hit another milestone on Tuesday, touching historic peaks above $107,000.
While the Fear and Greed Index reads “Extreme Greed,” Ripple’s XRP and Algorand (ALGO) attracted the attention of altcoin enthusiasts.
Bitcoin breaks ATH records
The leading crypto by market cap stirred the markets today after hitting the $107,780 all-time high.
BTC trades at $107,455 at press time, with a 25% uptick in daily trading volume signifying substantial demand behind its momentum.
The crypto space has outperformed since Trump’s presidential victory.
The latest positive developments, including replacing the SEC chair and the new crypto and AI czar, add to the bullish prospects.
Further, Michael Saylor’s proposal to utilize BTC to solve the United States debt crisis triggered speculations among crypto enthusiasts.
Bitcoin exhibits massive bullish strength and will likely push for more upsides (in the near term).
Meanwhile, crypto analyst Michael van de Poppe believes Bitcoin could sway within $110,000 and $95,000 this week.
He warned about intensified volatility due to the Fed meeting.
XRP targets new highs on RLUSD optimism
Ripple confirmed that it will launch stablecoin RLUSD today, December 17.
The enterprise-grade stablecoin promises amplified transparency and real-world use cases.
Initially, RLUSD will launch on five top cryptocurrency platforms – CoinMENA, Archax, MoonPay, Bitso, and Uphold.
The remittance firm has emphasized that the stablecoin adopts a compliance-first approach. It testified to this with last week’s NYDFS approval.
Attention has shifted to XRP’s price performance amidst the RLUSD debut.
The native token trades at $2.58 after gaining 7.5% within the past day.
XRP has soared since the United States election, nearing the $3 price mark early in December.
The impressive performance has placed it on investor radar.
Analysts forecast solid gains for XRP in the upcoming sessions.
For instance, DonAlt trusts the altcoin could double if it overcomes the $2.20 – $2.60 barrier.
XRP has swayed between the $2.20 support and $2.60 resistance since early this month after failure to reclaim $3.
A breakout past the hurdle could trigger smooth movements to higher levels.
Further, expert EGRAG CRYPTO predicts $8 per XRP token if Bitcoin extends its current rally to the $120,000 – $130,000 range.
📊 Daily Timeframe Analysis(4/7):
The daily chart is looking #BullishAF 🔥, and if the current pattern plays out, $7.5 – $8.1 could be the next target! 🚀
However, I’m in the camp that #BTC needs to make its big move to $120K-$130K first. 📈 Until then, #XRP might continue…
Notably, Ripple’s CTO warned about RLUSD’s possible supply shortages and price fluctuations.
Algorand at a crucial price level
While cryptocurrencies exhibit bullish trends, Algorand trades at a make-or-break level.
The altcoin changes hands at $0.4200 after losing 1.50% the previous week.
The $0.40 mark remains vital for ALGO’s performance as a previous demand region.
The value area witnessed a massive rebound in late November, confirming its reputation.
Meanwhile, the latest decline from $0.61 suggests a potential support retest.
Stability above $0.40 is crucial for bounce-backs past the $0.43 hurdle. That would open the gates for more gains in the upcoming times.
Increasing selling activities could plunge Algorand to $0.33 – a 27% dip from current prices.
However, prevailing momentum shows the upside has fewer obstacles for ALGO’s price.
The post Crypto today: BTC tops $107K, XRP eyes ATHs amid RLUSD launch, ALGO at crucial juncture appeared first on Invezz
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