The altcoins are striving to make a comeback after facing bearish market trends in the past. Altcoins like Ripple and LTC have made a tremendous comeback with an increase of eight percent (8%) and six percent (6%) respectively.
While, on the other hand, the analysis of past 24-hour price movement reveals that Bitcoin has increased to just two percent (2%) and is now trading around eight thousand dollars ($8,000).
Ripple had faced bearish market trends, and therefore, it was hard for the coin to cross the resistance level at $0.40.
However, it has successfully surpassed this level and is now trading $0.421, and the anticipated next resistance levels are set around $0.422 and $0.425.
In the same way, LTC has also made brilliant recovery and is currently trading at $113. Thus, both the coins have been successful so far in the process of recovery.
Now, the market is showing positive momentum for all the coins but, the dilemma is that this time in comparison with bitcoin altcoins have surged more in price.
The responsible factor for the increase of XRP can be the collaboration of Ripple with MoneyGram, which is a renowned money sending company. Ripple is known to gear its price with various existing and new partnerships every few days.
Litecoin has almost doubled in its worth and is the first coin in this year that has achieved such a remarkable surge. Investors show great interest in one of the leading two altcoins of this season.
Due to this increase, people are widely adopting this coin, and also it can be utilized as a currency for blockchain. The popularity and adoption of altcoins are growing immensely.
