Bitcoin (BTC) has been taking the spotlight in recent months, but altcoins have started to finally follow the number one cryptocurrency. Several large caps have been making double digits runs in the previous days, resulting in a mini altseason.
Not only has Ether (ETH) soared above $500, but Litecoin (LTC) also gained 40% in the previous week. However, XRP (XRP) is currently taking the spotlight with a daily rally of more than 20% and a new yearly high after gaining more than 50% in the past week.
XRP breaking through crucial resistance at $0.30 XRP/USD 5-day chart. Source: TradingView
The higher timeframes show a crucial breakthrough of XRP as the resistance zone at $0.30 has been providing resistance throughout the past year.
A breakthrough like this is essential for more bullish momentum because this means a new higher high and a new yearly high have been reached.
Such a higher high increases the likelihood of a new uptrend while