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

Ripple (XRP) Soars 21% Weekly, Bitcoin (BTC) Stalls Above $27K: Weekend Watch

Bitcoin is currently trading just below $28,000, showing some calming after the previous volatility. However, most altcoins, including ETH and XRP, are experiencing minor losses.

Bitcoin’s Stalling Movement at $28K

Bitcoin had a hard dump on Monday after the US CFTC sued Binance – the world’s largest digital asset exchange – and its CEO Changpeng Zhao. BTC stalled in the range of $27,000 for a few days before a mid-week bullish push that led to a sharp surge to over $29,000 on Thursday. However, the rise was short-lived as the cryptocurrency started losing value quickly and soon returned to $28,000. Over the last 24 hours, the asset has declined to under $27,600, with a slight improvement later on.

Bitcoin’s market capitalization has decreased to $535 billion, and its dominance over altcoins has also been affected, declining to 46%.

BTCUSD. Source: TradingView

HBAR’s Increase and XRP’s Stability

XRP has been among the top performers recently as its rally drove it up to 60% over the week. Ethereum, Dogecoin, Binance Coin, and Shiba Inu have small losses while MATIC, SOL, and LTC have seen up to 3% retracement in a day. In contrast, ADA, DOT, TRX, and AVAX have insignificant gains. Meanwhile, HBAR has surged by 9% to $0.07, among the top-performing mid-cap altcoins. Most other mid- and lower-cap altcoins charted minor losses, leading to a $30 billion loss in the overall cryptocurrency market cap in a day.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto