XRP, BTC, BNB, ADA, TRX News: Major Tokens Show Signs of Crypto Bulls Returning
XRP, BTC, and Other Leading Tokens Show Signs of Bulls Returning to Crypto Market
The market expansion indicates growing investor confidence.
Posted by: Omkar Godbole | Edited by: Aoyon Ashraf Updated: May 12, 2025 4:03 pm Published: May 12, 2025 2:21 pm
Key points:
- At least six of the top ten cryptocurrencies by market cap are trading above their 200-day moving averages, indicating a broader bullish trend.
- The 200-day simple moving average is considered an important indicator of long-term trends, and its exceedance signals a bullish trend.
- The bull market is spreading across a larger number of coins, reflecting growing investor confidence in the cryptocurrency sector.
The Bulls Are Back, And It's Not Just About Bitcoin BTC $103,640.69 USD.
Recent data shows that at least six out of the other ten tokens in the top 10 by market cap, excluding stablecoins, are currently trading above their 200-day simple moving averages (SMAs).
The 200-day simple moving average is widely viewed by many traders, including Coinbase, as a gauge of long-term trends. A sustained move above this figure is considered a bullish signal.
At the time of writing, XRP, BTC, BNB, ADA, TRX, and SUI are trading comfortably above their respective 200-day SMAs, signaling a bull market. Meanwhile, ETH, SOL, DOGE, and LINK remain below average, according to TradingView data.
This is an improvement from late April, when only XRP, BTC and TRX were trading above their 200-day SMAs, and four weeks earlier, when only XRP and TRX were holding above that level.
Research shows that the bull market is rapidly expanding beyond a select few coins, indicating growing investor confidence.
