According to data from CoinMarketCap, the charts show an optimistic outlook for cryptocurrency prices with the weekend underway. As of this edition's closing, the cryptocurrency market capitalization stands at $3.86 trillion, with an increase of nearly 2% in the last day.
Bitcoin, the largest cryptocurrency, is trading at nearly $118,000 after rising 1% in the last 24 hours. The leading cryptocurrency is consolidating following the release of the US CPI for June, which caused a sharp drop in prices. Currently, Bitcoin is 4.32% away from its all-time high, and investors are eagerly awaiting a new peak for the leading cryptocurrency.
Additionally, the rise in cryptocurrency prices has led Ethereum to increase by 2% over the last day, culminating in an explosive week. The seven-day chart of ETH reveals a 22% increase that brought the largest altcoin above $3,500.
XRP recorded respectable daily gains after reaching an all-time high during the week. Several technical and on-chain indicators predict a more pronounced rebound for XRP, with bulls aiming for a price increase of XRP to $17. While Solana has gained double digits over the past seven days, the price of SOL has only risen by 0.8% as enthusiasm for the asset cools.
Currently, Chainlink has risen nearly 4%, while Avalanche and Litecoin have gained 5% and 7.65% respectively in the last day. The daily trading volume of cryptocurrencies has decreased by 46%, reaching $135 billion, which challenges the usual performance of the cryptocurrency market.
