Ripple Gains While Bitcoin Remains Below dollar20000
Categories: Crypto News
RippleGains While Bitcoin Remains Below $20,000
A recentplunge pushed Bitcoin below the $19,000 mark, but it gradually recovered. Thisaction followed its 6% gain as of yesterday. Meanwhile, Ripple Coin (XRP)seems to be among the notable digital tokens in the bullish trend.
Investorsincurred huge losses due to the ongoing crypto winter. Many believed that theEthereum Merge would halt the market’s bearish trend. On the contrary, mostaltcoins, including BTC, depreciate their prices.
BitcoinFails To Jump Above $20,000
Last week,Bitcoin made some promising moves toward the $23K price level. But,unfortunately, that was where its bullish journey ended. From then up to now,the crypto market condition has not been pretty, particularly forinvestors.
Followingthe introduction of the U.S. CPI numbers, BTC lost a few more thousand,dropping to the $20K price mark. It maintained this position for a couple ofweeks until it rose to about $20,500 on Sunday.
That lookedlike a start for a bullish move until Monday when its price dropped massively,hitting the $18,300 price level. The three-month low became its lowest bearishbenchmark. As of September 20, BTC gained some push to arrive at $19,500.
The 24-hourgrowth of 1.72% reduced its weekly losses to around 10.90%. While this seemslike a good price movement, the token and the crypto market remain in the redzone.
Recently BTCfought to regain the $19K price. It made some bullish movements at the time.Unfortunately, BTC has lost about 2% of its value in the last 24 hours. Chancesare that it will plunge even further before the close of the market.The tokenis now down to 39.4% regarding its dominance over other digital tokens.Meanwhile, its market cap has dropped to about $360B.
RippleXRP Growth Amid Bear Market
Amid thebleeding market, XRP (Ripple) seems to be in the spotlight among the gainers.Its growth can be traced to the recent event between Ripple Labs and the SEC.Ripple trades at $0.4, a 10% increase in the last 24 hours.
Followingthe Monday red zone parade, several other digital currencies gained somebullish push yesterday. Unfortunately, the green glory didn’t last for many ofthese digital tokens, according to today’s market watch.
Among the digitalassets with the highest losses was Ethereum. The Merge, as many believed,was meant to take Ether to some green heights. While that is probable, Ethereumis currently plummeting to an unknown price level.