Many altcoins have been bleeding out since January, with very few relief spikes in between. XRP/BTC is a good representation of the broader market in this case. It appears to have had plenty of time to refuel and retrace, and is approaching a support region between 5000-5400 satoshis.
Additionally, Bitcoin's recent run up signals that new capital has entered the market. As per usual, I expect this capital to trickle down into altcoins that are bottomed out near support.
Additionally, Bitcoin's recent run up signals that new capital has entered the market. As per usual, I expect this capital to trickle down into altcoins that are bottomed out near support.