RATE Group | Subdued trading action continues on Sunday, XRP/USD gains traction
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Subdued trading action continues on Sunday, XRP/USD gains traction

13 Oct Subdued trading action continues on Sunday, XRP/USD gains traction

Posted at 12:50h in Cryptocurrency News by

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  • Bitcoin struggles to determine its next short-term direction.
  • Ethereum rebounds after posting modest losses on Saturday.
  • Ripple remains on track to register weekly gains for the second straight week. 

Major cryptocurrencies stay relatively calm for the second straight day on Sunday and continue to fluctuate between technical ranges in the absence of significant fundamental drivers that could impact the cryptocurrency market sentiment.

Top-3 coins price overview

Bitcoin (BTC/USD) posted small gains on Saturday and closed the $8,300 and is now moving up and down in a tight channel near that level. As of writing, the pair was up 0.5% on a daily basis at $8,345. Unless the pair advances beyond the critical 200-day moving average (MA), which is currently located at $8,700, and registers a daily close there, it is likely to have a difficult time finding its next direction.

Above the 200-day MA, $8,970/$9,000 (Fibonacci %78.6 retracement of June…

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