The crypto space went wild after one of the sleeping giants, XRP woke from its slumber. For the first time since the bull market started, the coin registered massive gains in one day.

The effect of all this awakening from top coins to new memecoins is seen on the global cryptocurrency market cap. Over the last seven days, the industry saw a notable surge in its value. It opened the previous week at $2.38 trillion. However, it dropped to its lowest for the session as it lost momentum after hitting $2.42 trillion. Due to this, it dropped to a low of $2.36T. Nonetheless, the chart shows it recovered.

Close to the end of the period under consideration, the sector peaked at $2.62  trillion but closed a little low. It ended the previous intraweek session with gains of more than 5%.

Over the last seven days, some of the top gainers were memecoins. Solana Ecosystem became host to so many of them. One such is Dogwifhat. Following its launch, the asset gained more than 40%.  Other meme assets are under and may get their formal introduction to the market in the coming days. Will they surge like the previous ones?

Nonetheless, the current week is looking robust with volatility.

Top Three Cryptocurrencies to Watch

BTC/USD

A look at the weekly chart clearly depicts the extent of the uptrend Bitcoin is currently experiencing. Over the last two months, it only had one red candle or one bad week. The previous intraweek session was a continuation of the green trend as the apex coin climbed to new heights.

On Monday, it started trading at $63,140 and experienced instant price surges. As a result, it broke $64k for the first in more than two years. It continued upwards as it tested ad broke the $68k resistance, peaking at $68,577. Although it saw a small correction, it registered gains of more than 8%.

The apex coin broke its all-time high during the next intraday session as it peaked at $69,210. In response, several short positions were REKT and others took profit. This resulted in the top coin dropping to a low of $59,313 before rebounding. After finding support, it closed at $63,796 which meant it lost almost 7%.

This week, BTC registered a new ATH. It started the week at $69k but broke $70k on the first day of the session. Following this flip, it surged above $72k and peaked at $72,910. Although it saw small corrections, it closed with gains of more than 4%.

The current intraday session is the opposite of what transpired. The apex coin is currently struggling to stay afloat as it dropped to a low of $68,636.

Indicators like the Moving Average Convergence Divergence and the Accumulation/Distribution channel may hold insight into how prices may perform this week. A closer look at MACD shows that the gap between the 12-day EMA and 26-day EMA is gradually reducing. This may mean the start of a bearish convergence. If this persists, it is safe to conclude that BTC may experience small downtrends. The $68k support might hold.

XRP/USD

During the previous week, Ripple was had a lot of volatility. It is evident in the candle that represented the previous intraweek session. A closer look at the candle suggests that the asset returned to a level it has hovered around over the last three weeks.

On Tuesday, it was one of the worsthit coins by the sudden change in market trajectory. It opened trading at $0.64 and saw small uptrends that ensured it peaked at $0.66. However, the asset retraced following its high. It dropped to a low of $0.53 as it broke the $0.60 support. It recovered and ended the day at $0.59 which meant it lost almost 9% in the end.

The previous intraday session was one of the biggest for the altcoin. It started the day at $0.60 but retraced to a low of $0.58 before rebounding. Following recovery, it surged, breaking the $0.66 for the second time in almost three months. It continued upwards and flipped $0.74 and hit a brick wall. Nonetheless, this is the first time, it is attaining this mark in almost four months.

Currently facing a downtrend, it is hard to say where it’ll end. However, it bounced off $0.66 which may XRP  found a new critical support. If it fails, the $0.60 barrier is another key level to watch