Tuesday shows that this is another day of inactivity and consolidation for Bitcoin which kept the king of cryptocurrencies just above the support line. The lethargy of Bitcoin (BTC) resulted in another dip in the market share as a few of the altcoins start making bigger moves. The altcoins look energized and feature rises initiated by the XRP token by Ripple, the Stellar Lumens (XLM) native cryptocurrency and 0x (ZRX).
All began with the Ripple news, which coincided with the brief touches of $8,400 for BTC over the past 24 hours. Clearly, there are many bears lurking here and the resistance is proving too strong for another day. On the low side, we can see that BTC dropped to $8,240 but recovered in the $8,300 region again. The Ripple token benefited from this consolidation period and made over 11% gains since the weekend, adding half of the gains today as the coin approaches strong resistance.
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Altcoins look energized right now, and XRP is not the only one. Even though it is one of the day’s top performing digital assets as it hit $0.298 this morning, the Stellar Lumens news show that XLM is also in a bullish momentum.
As usual, when XRP moves, the little brother named XLM follows. Over the past 24 hours, Stellar’s Lumens (XLM) token climbed to $0.065 and is way down from previous highs with a long way to go. The momentum built around Stellar (XLM) is likely to mimic Ripple as both altcoins look energized right now.
There is only a little cause for the fundamental drive behind XLM at the moment, so the Swell event could be beneficial for it, too. Stellar is right now ranked tenth in terms of market cap which has reached $1.3 billion today.
Last but not the least in the big movers as altcoins look energized is 0x (ZRX). The cryptocurrency made a larger 10% jump to reach $0.337 recently, and the daily volume for the DEX protocol token doubled to $64 million as it creeps back up the market cap and outperforms the altcoins around it.
From everything, we can conclude that Bitcoin’s slowdown is finally starting to benefit some of the altcoins. XRP, XLM and ZRX are obviously the leaders today.
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