BTC/USD is trading at $32355.8 higher than previous close. The Bitcoin erased its earlier losses & turned into gains after Tesla CEO Elon Musk stated the chances to resume accepting the Bitcoin as a mode of payment for company’s purchases. Also, the majority holdings of cryptos in the Musk’s portfolio managed the BTC/USD to trade higher. Last week, the draining trading volume in crypto currencies amid strong US Dollar Index & surging equity markets led a considerable selling pressure in Bitcoin. As seen in the chart, the BTC/USD failed to cross down the major support level of $30K levels after showing a false breakdown. Buying on dips may be suggested for the day in BTC/USD.

XRP/USD is trading at $0.5897, 0.37% up since previous day close. Major crypto pairs plunged up following the recent announcement from Tesla CEO Elon Musk which showed an acceptance of Bitcoin as a term of payment may be resumed soon. In addition to this, the Musk revealed that he holds majority of his investment portfolio in crypto-currencies which boosted the trader’s sentiments. In beginning of the week, the Ripple plunged down creating the weekly lows of $0.5200 levels. The worrisome Covid-19 situation post Delta variant virus outbreak will remain vital for digital assets. As seen in the chart, the Ripple reversed upside after testing the major support level of previous lows & hence, further buying may be recommended for the day.