Top 5 Crypto Performers: XMR, BTC, BNB, ETC, XRP

Many have been outspoken in support of the largest cryptocurrency as it maintains its market dominance above 62%. Though bitcoin is the undisputed leader, it is unlikely that it will remain the only cryptocurrency that will see a sharp increase in price.

Traders should not buy tokens that have corrected sharply from their highs in hopes that their price will also recover.

Our view will be invalidated if bears sink the price below $81. The next support on the downside is at $60.BTC/USD. With the recovery in prices, bitcoin bulls are getting confident again.

Institutional traders are unlikely to continue their buying spree as prices skyrocket higher.

If buyers fail to break out and sustain the price above $12,000 in the next week, it will attract further profit booking that can drag the price below $10,000 levels once again.

We believe traders should wait and buy on dips instead of chasing the price higher.

If the price rebounds off the 20-week EMA, bulls will again try to push the price above the $10.040-$11.880 resistance zone.

We suggest traders wait for the price to break out before initiating fresh positions.

The XRP/USD pair has been a laggard during the recent recovery in crypto prices.

The bulls have repeatedly failed to sustain the price above $0.450, which shows a lack of demand at higher levels.