Cryptocurrency Market Update: Bullish comeback as Bitcoin soars past $5,500

• Bitcoin majestically steps above $5,500 renewing the hope of overcoming the critical resistance at $6,000.
• Ethereum price and Ripple price climb above key seller zones at $120 and $0.15 respectively following in Bitcoin’s footsteps.

The cryptocurrency market is gradually turning bullish after an extended bearish session on Thursday. All the top three cryptos; Bitcoin, Ethereum and Ripple are in the green, by 2.83%, 3.17% and 1.3% respectively. The rest of the crypto market is painted green accept for selected digital assets such as Dash after dropping 4% on the day.

BTC/USD opened the session at $5,413 and advanced upwards to $5,475 (intraday high). Due to the selling dominance during the session, a low was also reached at $5,265. However, the bullish momentum is returning at the time of writing, which could pull BTC/USD above $6,000. In the meantime, it is essential that $5,500 is turned into a key support to allow the bulls to focus on breaking not only the resistance at $6,000 but focus on the critical level at $7,000.

ETH/USD is back to trading above $120 for the first time in two days. Selling activity has tested support at $115 severally. However, the bulls have returned with a bang aiming for $130. Ethereum is trading at $122 and counting at the time of writing.

XRP/USD has not been left behind but moving side by side with its peers. From the opening value at $0.1480, the price is teetering at $0.1503. If support is established above $0.15 then focus will shift drastically from $0.10 to $0.16.

Chart of the day: BTC/USD