Since May 14, the crypto market has been spiraling downwards, majorly contributed by the dip in the price of Bitcoin and altcoins. But on the day, the market seems to have found its footing as major tokens continue to surge towards key resistance levels. 

As per TradingView, the total crypto market cap (TOTAL) has gained $31.90 billion over the last 24 hours. This pushes the total crypto market cap up by almost 1% to $3.25 trillion after dipping to $3.22 trillion level the day before. 

If the crypto market continues the impressive rally, the TOTAL could make another attempt to climb past the resistance level at $3.33 trillion. A clearance of this level would see the total crypto market cap surge towards $3.43 trillion and potentially to $3.53 trillion. Such a rally would signal strengthened bullish momentum. But, bulls have to back the current rally further for the TOTAL to achieve the new heights. 

On the other hand, if the total crypto market cap fails to clear the resistance, it could rebound. A drop towards the $3.18 trillion support is more likely in such a scenario. However, if bears gain control of the market, the TOTAL could dip further towards the next support at $3.09 trillion. Such a dip would mean bearish momentum for the crypto market. 

BTC, ETH, XRP, BNB and SOL Prices Remain Steady

Bitcoin, as well as other top cryptocurrencies, are performing relatively well today. As per the data on CoinGecko, Bitcoin (BTC) is currently trading at $103,920 up by 1% over the last 24 hours. On the other hand, Ethereum (ETH) is trading at $2,506. The top altcoin by market capitalization has also recorded a modest 1.3% surge in the same period.

Additionally, Ripple-backed XRP coin is trading at $2.39 while Binance Coin (BNB) is trading at $646 and Solana (SOL) at $171. This marks a surge of 2%, 0.8% and 2.5%, respectively. 

What to Expect in Crypto in the Coming Week 

The crypto market is generally bullish at the moment. And according to crypto expert ‘Altcoin Gordon’ the coming week could be ‘monumental for the crypto industry.’ Gordon hinted this in a post on X on May 18. 

“From what I’m hearing, next week will be  MONUMENTAL for the crypto industry…Connect the dots.” Gordon teased. With the post featuring the flag of the United States and the United Arab Emirates, there could be a looming partnership or regulatory announcement between the two nations. 

Past partnerships and regulatory announcements by the U.S and UAE, a top crypto hub, have been known to stir the crypto market. Traders must thus keep watch of announcements by the two nations as it could affect the price of Bitcoin, Ethereum and other altcoins in the coming week.  

On Monday May 19, the Chicago Mercantile Exchange (CME) is also set to launch XRP futures as per the May crypto events calendar by Mudrex. The launch marks a major step for XRP as it is expected to increase the liquidity of XRP as well as attract more TradFi investors. The XRP futures, although subject to regulatory approval, could fuel the sentiment for XRP further spilling over to the general crypto market. 

Additionally, Thursday May 22 will feature a high-profile dinner with Trump. The dinner could result in more political and high-profile support for the crypto sector. If such happens, the crypto market could experience improved sentiment potentially pushing the price of BTC and altcoins. 

Exciting news 🔥

The SolCex team is thrilled to announce we'll be dining with President Trump @realDonaldTrump on May 22 at the Gala Dinner in Washington, D.C 🔥

We are excited to discuss the future of crypto with the President 🤝 pic.twitter.com/Ln8qs0Ne4f

— SolCex (@SolCex_Exchange) May 13, 2025

But, despite the bullish outlook for top cryptocurrencies as well as a promising week ahead, traders must be strategic in their approach. Cryptocurrencies are highly volatile and sharp price movements could occur at any moment.