Top Trending Coins for Today, July 16: XRP, PEPE, ELF, XLM, and BTC
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Tokens that featured in this week’s top 5 trending markets performed very significantly. Therefore, this suggests that they successfully converted the volatility for the concluded week by adding to the value of their various markets. We might be in for more pleasant surprises from these markets in the coming week.
XRP (XRP)
Major Bias: Bullish
Finally, PEPEUSD has lost its top position to the XRP market. XRPUSD was able to do this through the aggressive bull market of July 13. The market gained an impressive 51.6% in the course of the week. However, after hitting a take-profit level near $1.00, the market began retracing lower levels, losing around 0.82% in the process. XRP has a market capitalization of $37,457,719,265 and a volume of trade of $3,417,730,259.
According to the Relative Strength Index (RSI), the price retracement is due to the market venturing into the overbought zone; therefore, a price correction is necessary. However, there is still room for bulls to do more.
Current Price: $0.7160
Market Capitalization: $37,457,719,265
Trading Volume: $3,417,730,259
Pepe (PEPE)
Major Bias: Indecision
Finally, Pepe dropped to the number two spot on this week’s trending market list. After a very impressive bullish performance and a long period of price consolidation, bearish sentiment began to grow in the market, causing it to fall back to the long-held support level. Early in July, the bulls propelled the price to $0.000001858, but they could not follow this through; the price had to fall back to the key support level. So, despite the growing bearish sentiment in the market, PEPEUSD has been able to prevent a major price decline by keeping the price in an eastward-moving market.
Current Price: $0.000001651
Market Capitalization: $642,924,453
Trading Volume: $7118,360,530
ELF Wallet (ELF)
Major Bias: Bullish
Since June 20th, the ELF token appears to have begun an upward retracement. And as of right now, this cryptocurrency is listed as the third-trending coin on CoinMarketCap. The self-reported market capitalization for The ELF Wallet is $440,040, and its trading volume is $3,096,799. Even over the last seven days, this token has performed rather well, with a price rise of 33.21%. There has also been a 1.70 percent price rise today. On the daily chart, buyers appear to have regained control over price movement during the current trading session. This can be interpreted as the appearance of a moderately sized green price candle that corrects prices upward while maintaining prices above the MA lines.
Current Price: $0.000413
Market Capitalization: $440,040
Trading Volume: $3,096,799
Stellar (XLM)
Major Bias: Bullish
In fourth place for this week’s trending crypto market is Stellar. With a price increase of about 29.40% in the past 7 days, this market has performed fairly well to have attained the fourth position on the list. However, in the past 24 hours, the market has been seeing price retracements. But going by the technical indication on the daily chart, the XLM market is still very bullish. The Bollinger Bands, even with the widened distance between the two standard deviations, are portraying an upward-moving price channel. Furthermore, a support level is likely to be formed around $0.1276.
Current Price: $0.007575
Market Capitalization: $125,140,617
Trading Volume: $70,731,932
Bitcoin (BTC)
Major Bias: Indecision
Bitcoin comes up in the fifth position on this week’s trending coin list. Bitcoin, like Pepe, has been able to maintain price above the $30,000 price level, despite possible growing bearish sentiment after an impressive break of the market into the $30,000 price zone on June 23. Due to the indecision among traders, Bitcoin was only able to make a gain of 0.13% in the past 7 days, and in the past 24 hours, it has made a gain of 0.03%. We might see a decisive movement of the market in the new week as the Bollinger Bands indicator is showing signs of a volatility squeeze, which is a precursor to decisive market movement.
Current Price: $30,292.40
Market Capitalization: $588,590,212,261
Trading Volume: $8197,096,976
