By the end of the week, the cryptocurrency market had given up some of the gains made on Sunday, when the main cryptocurrency surged on the news that a preliminary agreement had been struck in the United States to raise the national debt ceiling.
The total capitalization of the cryptocurrency market rose from $1.10 trillion to $1.14 trillion in the course of the past week. In the past week, Bitcoin's value has increased by more than 2%, Ethereum is up over 3.80%, Ripple is up over 12%, and Litecoin is up over 3.80%.
Bitcoin
Bitcoin has been unable to maintain any of the gains it made over the weekend. The quotes of the most prominent cryptocurrency came back to the previous level of 26,480.
The price might proceed to recover within the range of 26,480 to 30,973 from this technical position, or it could travel farther south to the next level of 25,201 after breaking out its support and settling below it.
Ripple
Ripple increased in value and broke out resistance at 0.5097; however, it has not been able to get a foothold beyond that level and is currently putting the strength of the horizontal line to the test.
It is highly likely that XRP/0USD will return back to 0.4828 if the price continues to move in a downward direction and consolidates lower. In the event that the price is able to hold above 0.5097, there is a different technical scenario that involves rise toward the target of 0.5513.
Ethereum
This week, Ethereum reached the resistance at 1896.78 but was unable to break it out and instead pulled back down, following the same trend as the main cryptocurrency's decline.
There is now enough room to the south for ETH/USD quotes to reach 1784.02, with the further direction depending on whether or not the main cryptocurrency, which remains the market leader, continues to fall.
Litecoin
Following the weekend, Litecoin has maintained its position. However, its growth has slowed to a crawl. The LTC/USD price has been putting the strength of resistance at 91.12 to the test. If the price of the pair is able to hold above this level, more gains toward the 97.17 level will be possible.
Unless something changes, quotes may return back to the support at 82.90 after overcoming the intermediate level at 86.88 marked with dotted lines.
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