Within a day (1 August 2020), the collective industry seemed to be back on track as a majority of the top altcoins registered positive gains over the past day. XRP, Chainlink, and Tezos were some of the frontrunners with LINK leading the pack in the charts.
XRP 1-hour chart
After reaching $0.32 on 1st August, XRP witnessed a quick decline below the $0.30 threshold but maintained consolidation just above $0.25. At press time, XRP was valued at $0.30 after registering a 5.58 percent hike over the past day. With a market cap of $14 billion, XRP remained 3rd in the ranking, creating more distance from Tether at the 4th place.
Source: Coinstats
However, the short-term future for XRP seemed rather bleak. According to the market indicators, MACD suggested that in spite of the rise, the asset was nursing a bearish trend at the moment.
Relative Strength Index suggested a decline as well with the selling pressure slowly increasing in the market. Bollinger Bands suggested a decline in volatility as well.
Chainlink 1-hour chart
Leading the pack over the past day, Chainlink incurred a whopping 13.45 percent hike, taking its valuation from $7.62 to $9.39 at press time. The growth witnessed by Chainlink pushed the asset above BNB coin at 9th in the rankings, with a market cap of $3.3 billion in the charts. The asset also exhibited a decent trading volume of $1.08 billion.
Market Indicators were bullish at the moment, with Chaikin Money Flow suggesting higher capital inflows than outflows. Parabolic SAR suggested a definite bullish trend as well with the dotted lines appearing under the candlesticks.
Bollinger Bands appeared to diverge in the charts, indicative of a volatile period in the future.
Tezos 1-hour chart
Similar to XRP, Tezos exhibited a surge of 5.74% over the last 24-hours. Market indicators for the asset were contradictory as Awesome Oscillator suggested that bearish momentum had started to take charge. However, MACD continued to picture a bullish trend as the blue line hovered over the red line.
Tezos’ trading volume of $208 million did not do justice to its market cap of $2.31 billion at the moment. For XTZ, the present valuation remained at $3.17 at the moment, recovering completely from the collapse witnessed 2 days back.
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