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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

XRP Takes The Lead Among Altcoins – Will It Drop Before Climbing?

Denis
Denis
2 years ago
2 mins read
XRP Takes The Lead Among Altcoins - Will It Drop Before It Can Rally?

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XRP has maintained a daily calmness but emerged as the week’s top performer. The token took to the north with 18% weekly gains as the price crossed the $0.5 mark before falling. Also, other altcoins have been making slight losses daily in the past week.

The crypto market is witnessing a drastic twist in the overall movement of prices. In the past few weeks, the crypto assets have been going on and off in both north and south directions. However, after reclaiming slightly during last week, most of the crypto coins lost almost all they had gained during the weekend.

Bitcoin has been struggling to push upward in the past 24 hours. This was after the primary crypto asset lost its anchor on the critical level of $20K. BTC is almost going below the $19K region with more bearish force in the market.

Related Reading: Bitcoin Whale Ratio Surges Up As Leverage Remains High
XRP Takes The Lead Among Altcoins - Will It Drop Before It Can Rally?
XRP drops by 1% on the chart l XRPUSDT on Tradingview.com

XRP Takes The Win For This Week

The weekend is not favorable for the majority of crypto assets. The market saw low trading volumes from Saturday, which spilled into Sunday. As a result, most altcoins have been calm, with minor dips in their values.

XRP emerged as the winner with gains of 18% over the past week. Its performance stands as the best among the large-cap altcoins. With the sudden breakout in price, the token has finally crossed its coveted 0.5 mark.

The second largest crypto asset, Ethereum, plummeted in the early trading hours. The price of ETH is hovering below $1,300. Other altcoins like Solana (SOL), Polygon (MATIC), and Polkadot (DOT) have the same records.

On a daily measurement, Cardano, Shiba Inu, BNB, and Dogecoin dipped significantly by about 2.5%. QNT, which bagged the best performer for yesterday, has also plummeted.

Bitcoin Now Hovers Around $19K Region

Bitcoin has had a complex story with its performance recently. The primary crypto is currently hovering around the $19K region, and there are doubts that it will receive more support. In addition, the recent release of the US job report had a bearish effect on Bitcoin, which lost almost $1,000 following the announcement.

Related Reading: Bitcoin Struggles To Retain The $20,000 Mark While ENS Protocol Gains

Last week, BTC hit its three-week high of $20,500. But, it gradually started a south movement to $20,000. The largest global crypto asset stalled at this critical region for some days before moving south again. At the time of writing, BTC is trading at around $19,238, showing an increase over the past 24 hours.

Featured image from Pixabay, charts from TradingView.com
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Denis
Denis

Denis

Denis is a passionate writer and editor and he's been writing in finance industry for almost 6 years.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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