While Bitcoin’s (BTC) price saw a moderate increase at the start of the previous month, the top performing cryptocurrency price followed an abrupt decrease as of September 24. Although alternate coins (altcoins) have been able to recover from their drops a lot better than BTC.
Ethereum has seen an increase of over twenty percent (20%), while ChainLink has seen an increase of over sixteen percent (16.20%), XRP increased by fourteen percent (14%) of its value, Stellar increased by over eleven percent (11.42%), and EOS increased by over four percent (4.31%).
Top performing cryptocurrency: Ethereum’s (ETH)
ETH’s price started to increase by the end of the first week of September. The cryptocurrency’s price got to its high on September 20, and it also stabilized three (3) days after its September 24 drop.
A cause of the twenty percent (20%) increase in the cryptocurrency’s price may be its investors’ expectations after the hard fork.
The hard fork, which is a radical change to a network’s protocol that makes previously invalid blocks and transactions valid, was postponed to October 30, while it was supposed to be released on October 13.
The cryptocurrency is not expected to breakthrough in October. This is due to the cryptocurrency’s low volumes in its upward move.
There has been no bullish trend in the cryptocurrency market, and the relative strength index has also steered away from the oversold region while stalling around forty (40).
The Chainlink (LINK) price saw a continuous decline until September 16, which follow a constant increase, which even neglected the crash in the last week of September.
The September increase may be due to the constant growth of the network, while large transactions may also be doubled.
Chainlink’s price nearly reached 0.0004 Bitcoin in the first week of July. In September, the increase has caused the continuous downfall to breakthrough towards the resistance line, while heading towards the July highs.
There was a bearish variation in the relative strength index (RSI). The cryptocurrency may decline towards the support area.
Top performing cryptocurrency: Ripple XRP
Ripple XRP started to show an incline towards September 4, after which it reached its high as of September 18, following which it decreased during the crash in the last week of September.
While XRP has increased in its value after the crash in the last week of September, the currency was recorded at its highest at September’s end. Ripple acquiring Algrim may have been the cause of the soaring up of the prices of XRP.
In the previous week, XRP had moved about its twenty (20) and thirty (30) moving averages. The moving averages have turned upwards, and this may result in somewhat of a bullish trend.