Crypto-markets witnessed another week under selling pressure at the beginning of the week. Nevertheless, altcoins looked to build support above last week lows. Bitcoin [BTC] also rejected another bearish attempt below $10,000.
On Friday, Bitcoin gained about above 2.5% but has again fallen back to the support near $10,500.
BTC/USD 1-Day chart on Bitstamp (TradingView)
Opening Price: $10,379
Closing Price: $10,175
Weekly Loss: 1.9%
Weekly High/Low: $10,955/$9755
XRP was one of the most underperforming cryptocurrencies during this year. The coin broke below $0.27 at the beginning of this month. However, it has been trying to build support near these levels. Ripple has continually increased its efforts in providing efficient payment and settlement services.
However, the use and taxonomy of XRP are still uncertain, which has affected its price adversely throughout the year. Nevertheless, the beginning of the week saw a slight hope of reversal.
XRP/USD 1-Day Chart on Bitstamp (TradingView)
Opening Price: $0.28
Closing Price: $0.283
Weekly Loss: 10.7%
Weekly High/Low: $0.0.29/$0.257
The weekly price action on Cardano [ADA] was similar, as it formed a reversal from bear to gains during the last few days of the week.
Recently, Cardano partnered with Korean firms which will implement Cardano for Korean digital content and mobile gaming.
ADA/USD 1-Day Chart on Binance (TradingView)
Opening Price: $0.048
Closing Price: $0.051
Weekly Gains: 6.25%
Weekly High/Low: $0.054/$0.044
Tron [TRX] has been reeling under bearish pressures for some time now.