Crypto Today: Bitcoin recovers above $17K, Ripple's corrective slide continues

• Bitcoin's recovery gains momentum.
• TRON continues to climb the top-ten ladder.
• The total market cap inches closer to $800 billion.

After closing the previous two weeks with substantial losses, the BTC/USD pair extended its recovery for the fourth straight day on Friday and was last seen trading at $16,766.80, adding 9.12% on the day, according to the latest available data on coinmarketcap.com.

In an article written for coindesk.com, FXStreet analyst Omkar Godbole comments on the pair's technical outlook: "An inverse head and shoulder breakout. As of writing, BTC is trading well above the neckline hurdle of $15,550, so the bullish breakout is pretty much a done deal. Prices could rise to $18,600 (target as per the measured height method) over the weekend. Other factors – including a breach of the falling trendline, a bullish break of the falling wedge, higher lows as represented by the rising trendline – also favor further upside in BTC."

On the other hand, Ripple, which gained a lot of popularity and staged an impressive rally in the last couple of weeks, continues its corrective slide for the second straight day as investors are looking to take some profit off the table. At the moment, the XRP/USD is losing 9.87% at $3.06.

Meanwhile, after more than doubling its value in USD terms on Thursday, TRON added another 40% before going into a consolidation phase. Nonetheless, TRON's market cap rose $14 billion, surpassing Stellar and Litecoin to become the seventh biggest cryptocurrency. The total market capitalization of all cryptocurrencies reached another all-time high of $783 billion.