Bitcoin price has shown resilience to sellers as buyers stepped in after retesting a historically strong support level. This development has caused Ethereum, Ripple and other altcoins to trigger a premature rally.
Ethereum (ETH) price shows a strong comeback as it follows in Bitcoin’s footsteps. However, there seems to be another cause why ETH has a higher probability of continuing this uptrend – the Shanghai hard fork.
Ripple price will be very muted Friday morning as traders are bracing to take or leave the last chance to get this Christmas rally underway. With the US Producer Price Index (PPI) coming out Friday afternoon, global markets will look for indications that prices in the US are coming further down, opening up room for the Fed to become less aggressive. This would revalue several asset classes higher than where they are currently valued, translating to XRP price producing a 7% gain in one trading day with $0.4228 as the profit target.
