Crypto analytics tool 100eyes Crypto Scanner reports that Ethereum (ETH) and XRP, the second and sixth largest cryptocurrencies by market cap, are approaching horizontal resistance. This refers to a price level that an asset struggles to surpass due to an influx of sell orders. Ethereum has a market cap of $229 billion and a 4% weekly gain, while XRP has a market cap of $27 billion and has outperformed Bitcoin and ETH with a 12.8% increase over the past seven days. However, hitting these resistance levels could result in a price reversal or consolidation.
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Ethereum (ETH) and XRP Approach Horizontal Resistance, Testing Bullish Momentum
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