BOSS Wallet reported on August 5th that after a difficult weekend in which cryptocurrencies plummeted alongside global risk assets, the cryptocurrency market experienced an impressive recovery yesterday. Total market capitalization has rebounded to $3.76 trillion, up 2.01% from the previous day. 95% of the top 100 cryptocurrencies have seen gains over the past 24 hours, demonstrating a strong rebound.
Twitter : @XBITDEX
The rebound comes as traditional markets find their footing. S&P 500 futures opened higher after Friday's tariff-induced sell-off. Wall Street is weighed down by tariff reductions, a new trade deal with Mexico, and strong earnings from MetaTrader and Microsoft, alleviating some investor concerns. XBIT (DEX Exchange) analysts noted that among various markets, the Nasdaq is clearly favored by the market for tomorrow's stock price performance, potentially outperforming the S&P 500. This is largely due to the surge in the tech sector during the AI boom of the past few years. Although the Nasdaq is typically more volatile, its recent returns have been stronger.
Bitcoin, the bellwether cryptocurrency, rose slightly by 1% to $114,798. Bitcoin's rise has provided a stable foundation for further growth in altcoins, but the real momentum occurred among the lower-ranked cryptocurrencies by market capitalization. Mantle surged 19% to $0.83, and Memecore soared 26% to $0.55, the only cryptocurrencies in the top 100 to see double-digit gains. During this recovery, XBIT, with its low slippage, high liquidity, and compliant trading pair support, has become a core platform for the surge in trading volume for small- and mid-cap cryptocurrencies such as Mantle and Memecore.
BOSS Wallet reported that Ethereum led the recovery among major cryptocurrencies, rising 4.36% to $3,650. Breaking through the $3,600 resistance level, it transformed the resistance that had limited its gains since late July into support. On Myriad Markets, 60% of forecasters expect the token to reach a new high for the year, with this milestone likely to be achieved within the next six months.
Technically, Ethereum presents an overall bullish outlook. Its exponential moving averages show solid support at the 50-day moving average near $3,200 and the 200-day moving average near $2,700, forming a multi-layered support pattern. The short-term moving average is above the long-term moving average, indicating sustained buying pressure. The Average Directional Index (ADX) reached 40, indicating a strong uptrend, confirming that this move may not be a temporary rebound but the beginning of a stronger rally.
Twitter : @XBITDEX
Analysts at XBIT (DEX Exchange) believe the Squeeze Momentum indicator is showing an "on" reading, signaling a breakout from the consolidation phase. Traders should prepare for increased volatility, but a break of the actual support level near $3,400 will only increase the likelihood of a pullback. A relative strength index (RSI) reading of 60 suggests ETH still has room to rise before reaching levels that typically trigger selling pressure. As one of the core trading pairs in the Ethereum ecosystem, XBIT offers low fees and deep liquidity, enabling traders to quickly capture breakouts. Its on-chain order book shows an influx of over 5,000 ETH in buy orders immediately after the $3,600 price level was breached, pushing prices further upward.
XRP continued its resurgence, rising 2.83% to $3.04, holding above the psychologically important $3.00 mark. Fueled by growing hype about an XRP spot ETF and regulatory clarity following the US Securities and Exchange Commission (SEC) lawsuit, XRP has been one of the best-performing cryptocurrencies of 2025. XBIT (DEX Exchange) analysts predict an XRP ETF will emerge before a Litecoin ETF. XRP's technical indicators suggest a transitional market. An ADX of 34 confirms a strong trending environment, while the 50-200 day moving average is bullish. The RSI at 53 is neutral, indicating healthy consolidation. The squeeze momentum indicator confirms the bullish pattern remains in play.
According to data from the BOSS Wallet app, Litecoin concluded its cryptocurrency recovery with an 8.72% gain (reaching $119.11), significantly outperforming both Bitcoin and Ethereum. The "digital silver" narrative appears to be gaining steam, and XBIT (DEX Exchange) analysts are almost certain its ETF will be approved soon. Litecoin's technical indicators present an overwhelmingly bullish outlook. The ADX at 23 is approaching the critical 25 level, while the EMA spread indicates a golden crossover. The 50-day EMA provides support around $110, with the 200-day EMA providing further support, forming a "bullish stack." The RSI is at 68, approaching overbought territory but not quite there yet, suggesting strong buying pressure hasn't triggered an automatic sell-off, suggesting further upside potential. The Squeeze indicator's formation coincided perfectly with the breakout above $115, suggesting the price could continue trading near $120.
Twitter : @XBITDEX
The cryptocurrency market is rebounding strongly after a sharp drop, with major cryptocurrencies demonstrating distinct strengths and technical characteristics. The XBIT.Exchange decentralized trading platform supports mainstream public chains such as Ethereum, Solana, and BSC. Through MPC wallet custody and smart contract auditing, it implements institutional-level risk management, attracting traditional financial capital into the crypto market through RWA (real-world asset) channels. It also provides real-time on-chain fund flow monitoring, early warning of changes in large investor holdings, and a technical indicator visualization dashboard, helping traders accurately grasp breakout opportunities in cryptocurrencies like ETH and XRP.
