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BTC Price Unable to Progress as Ripple (XRP) Targets $0.6: Market Watch

Bitcoin Shaky Amid SEC Fiasco, Ripple (XRP) Slides to $0.52 (Market Watch)

Bitcoin’s price is attempting to reach the desired level of $35K but has so far been unsuccessful. Other cryptocurrencies in the market are consolidating, with some altcoins performing better than others.

Let’s take a closer look.

Is $35K Slipping Away?

As reported by CryptoPotato yesterday, the Bitcoin price was above $34K and appeared to be aiming for $35K. Today, the price remains above $34K but has been unable to reach the targeted resistance level. It is currently experiencing a loss of approximately 0.7% in the past 24 hours.

Source: CoinGecko

Liquidation data is also worth monitoring. CoinGlass reports that the total liquidations in the past 24 hours amount to nearly $100 million. The majority of these liquidations were long positions, accounting for 63% of the total. This indicates a dominant presence of bears during this period.

As usual, most of the liquidations occurred on Binance, followed by OKX and Bybit.

Altcoins Receive Mixed Signals, Ripple’s XRP in the Lead

Many altcoins have also received mixed signals in the past 24 hours, as shown on the heatmap below:

crypto_heatmap_3110231
Source: Quantify Crypto

Ripple’s XRP is one of the top-performing cryptocurrencies in the top 10. It has seen a 2.6% increase throughout the day and is aiming for $0.6. It will be interesting to see if it can reach this target.

Solana (SOL) is outperforming the market, with a 4.3% increase on the day.

It’s worth noting that Bitcoin’s dominance has fallen below 51% today. This metric is used by traders to assess its market share relative to the rest of the market. The decrease indicates that altcoins have been performing better than Bitcoin in the past 24 hours.