Bitcoin (BTC) and Ethereum (ETH) prices continue to recover on Wednesday after finding support around their key levels this week. On the other hand, Ripple (XRP) remains strong and found support around its upper symmetrical triangle boundary, suggesting a rally continuation.
Ripple (XRP) is up 5% on Tuesday following recent positive developments surrounding its ecosystem and JP Morgan’s prediction of over $8 billion in inflows into XRP ETF if it gains approval from the Securities and Exchange Commission (SEC).
Bitcoin’s (BTC) rising correlation with the traditional stock market is gradually affecting its role as a portfolio diversifier. This trend has been visible following Bitcoin’s similar reactions to the S&P 500 upon macroeconomic data releases.
