Bitcoin, Ether, and XRP Weekly Market Update May 27, 2019

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The total crypto market cap is $22 billion up for the seven-day period and now stands at $269 billion. The top ten currencies are mostly in green for the same time frame with Binance Coin (BNB) and Litecoin (LTC) leading the pack with 18.1 and 19.3 percent of gains respectively. By the time of writing bitcoin (BTC) is trading at $8,764 while ether (ETH) stands at $268. Ripple’s XRP is at $0.412.

BTC/USD

Bitcoin added $940 to its value on May 19, 2019, and broke above the $8,000 level in a stunning 13-percent increase session.

The BTC bulls, however, started feeling the pressure and needed consolidation before continuing the run towards $10,000. On May 20, the BTC/USD pair dropped to $8,000 as traded as low as $7,570 during intraday. It moved even lower on May 21 before stopping at $7,950.

On May 22, the most popular cryptocurrency lost another four percent of its value and closed at $7,620.

In the latest report, a support line at the $7,350 level emerged, but on May 23 bulls managed to reverse the short-term downtrend trend to a higher point, $7,470, before pushing North to $7,880.

BTC/USD continued its way up on May 24, climbing to $8,000. It was trading as high as $8,200 during the day, suggesting that bulls are ready to break and hold above the mentioned psychological level.

They did that on May 25 when they pushed the price further to $8,161.

Bitcoin ended the seven-day period with a 6.6 percent price increase after gaining 8.2 percent on Sunday to $8,733.

In other news, cryptocurrencies are now available for transactions on WhatsApp thanks to a new bot by Zulu Republic. The company, which describes itself as an “ecosystem of digital platforms built on the Ethereum,” will allow users to exchange bitcoin, litecoin and its native ZTX token by using a bot called Lite.IM. The service integrates with Facebook’s messaging app, which opens the door for more…

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