XRP Soars 8%, Bitcoin Breaks $17,000 (Market Watch)

Bitcoin tried to drop $17,000, but like most previous attempts, it got stuck.

Most altcoins are currently suffering small losses, with ETH trading below $1,200. Meanwhile, XRP has taken center stage with his massive 8% daily gain.

Bitcoin Fails Before $17,000

After an unusually mild weekend with Bitcoin hovering near $16,500, the asset headed straight south on Monday and Tuesday, initially dropping to $16,000 before hitting a two-year low of 15,500. plummeted to the dollar.

It reacted quickly to the multi-year low and recovered almost $1,000 within hours afterwards. This recovered $16,000, and further put him on his way to $17,000.

However, the bears came out yesterday as BTC was marching the latter. So they stopped the asset from getting too close to it and pushed it back to $16,500 where it is still trading.

Its market capitalization remains above $315 billion, but its dominance over Alt has fallen to 38.2%.

Despite being about 75% off last November’s all-time high, some on-chain analysts warned That BTC could head further south, at least according to UTXO.

BTCUSD.Source: Trading View

Ripple Sky Rocket

The altcoins have seen a significant uptick recently, but are now mostly red. Ethereum went from below $1,100 to above $1,200 in a few days. But now ETH is struggling below the latter after minor daily retracements.

Binance Coin, Cardano, Polygon, Polkadot, Shiba Inu, OKB, and Solana are also slightly deficit from the larger cap alts. LEO plunged more than 8%.Litecoin down 3.5% the next day chart Highest price in half a year.

Meanwhile, Ripple has emerged as the top performer today. XRP rose almost 8% and tapped $40.

The cumulative market capitalization of all crypto assets has fallen by about $10 billion to just under $840 billion as most low and mid-priced altcoins have lost small chunks of value over the past 24 hours.

An overview of the cryptocurrency market.Source: Quantify Crypto
An overview of the cryptocurrency market.Source: Quantify Crypto
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cryptocurrency chart By TradingView. XRP Soars 8%, Bitcoin Breaks $17,000 (Market Watch)

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