Bitcoin Retreats From $30K as XRP Slumps Toward $0.6: Market Watch

Bitcoin Retreats From K as XRP Slumps Toward alt=


Yesterday’s advance quickly came to a halt as the cryptocurrency market, at large, was unable to sustain the gains. Still, prices are looking better than they did one week ago, with certain exceptions.

All in all, the past 24 hours were rather exciting, so let’s have a look.

Bitcoin Price Retreats From $30K

Bitcoin has awakened from its recent slumber when the price failed to chart any notable moves for over a week. Yesterday, BTC soared to around $30,200 (on Binance), as seen in the chart below.

The price was unable to remain above $30K, though, and quickly retraced. The bulls then made another attempt, but ultimately, the sellers were successful in keeping the cryptocurrency before this otherwise important resistance – both technical and psychological.

Source: TradingView via Binance

It’s interesting to see if there will be another attempt on behalf of the buyers or if the price will now enter another prolonged period of consolidation marked by low volumes and non-existent volatility.

XRP Suffers as Altcoins Indecisive

The altcoin market is also largely indecisive throughout the past 24 hours, with most of the cryptocurrencies charting small losses.

Ripple’s XRP is down the most (from the top 10), as it lost around 2%. This might have been caused by the fact that the US SEC has now formalized its intent to appeal the recent court ruling, which determined that secondary XRP sales didn’t constitute an investment contract.

Source: Quantify Crypto

It’s worth noting that the overall market sentiment is currently neutral. This is according to the Crypto Fear and Greed Index. It analyzes emotions and sentiments from a number of sources and produces a number that gauges them.

This number is currently 53 – up from yesterday’s 50. Over the past seven days, the index has remained relatively flat, which is to be expected based on the general market inactivity.


Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO50 code to receive up to $7,000 on your deposits.

Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.


Source link

Leave a Comment