Ripple (XRP) Slips Below $0.55, Bitcoin (BTC) Loses $28,000: Market Watch

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Bitcoin has finally calmed down after the recent volatility, and the asset is currently trading within inches of $28,000.

Most altcoins are slightly in the red today, with ETH slipping below $1,800 and XRP hovering between $0.5 and $0.55.

Bitcoin stalls below $28,000

The main cryptocurrency was dropped from above $28,000 to $26,500 on Monday after the US CFTC for follow-up the world’s largest digital asset exchange – Binance – and its CEO – Changpeng Zhao. Bitcoin stalled under and around $27,000 for a day or two, but the bulls reminded of their presence in the middle of the week.

They pushed the asset north, resulting in a price spike to over $29,000 on Thursday. However, this was short-lived as BTC failed to continue rising or even stay at the same levels. It started to lose value rapidly and fell back to $28,000 a few hours later.

The last 24 hours brought more pain as the cryptocurrency fell further below $27,600. It has recovered ground since then, but still sits below $28,000.

Its market capitalization fell to $535 billion. His alts dominance also took a hit and fell to 46% after surpassing 46.5% yesterday.

BTCUSD.  Source: Trading View
BTCUSD. Source: Trading View

HBAR soars, XPR calms

Ripple’s native token has been among the best performers in recent weeks, perhaps fueled by speculation of positive developments in the company’s legal case against the United States Securities and Exchange Commission. This rally sent XRP up by 60% weekly at one point. The asset has finally calmed down on a daily scale and sits near $0.55.

Ethereum. Binance Coin, Dogecoin, and Shiba Inu post minor losses, while MATIC, SOL, and LTC fell as much as 3% in one day. On the other hand, ADA, DOT, TRX and AVAX recorded insignificant gains.

HBAR is the best performing mid-cap alt, having jumped 9% and trading at $0.07.

While most other mid- and small-cap altcoins saw minor losses, the overall crypto market cap lost $30 billion in one day.

Presentation of the cryptocurrency market.  Source: Quantify Cryptography
Presentation of the cryptocurrency market. Source: Quantify Cryptography

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Cryptocurrency charts by TradingView.


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