Ripple Explodes 11% on SEC-Lawsuit News, Bitcoin Eyes $20K (Market Watch)

Ripple Explodes 11% on SEC-Lawsuit News, Bitcoin Eyes K (Market Watch)


Bitcoin reacted quite well to the latest price drop two days ago and jumped to almost $20,000 in the past 24 hours.

Most alts are also in the green, and XRP is outperforming the rest of the larger-cap ones once more.

Bitcoin Eyes $20K

After the untypically calm weekend, in which BTC spent around $19,000, the asset went on the offensive on Tuesday, when it surged past $20,000 for the first time in almost two weeks.

However, this price increase was short-lived as the cryptocurrency was rejected at that coveted line. In a matter of hours, it found itself slipping below $19,000 and dropped all the way down to $18,500.

It reacted well to this decline and started to reclaim value somewhat rapidly. As a result, it was soon trading above $19,000 and even tried its hand at taking down $20,000 once more but was stopped at $19,800.

As of now, it stands a few hundred dollars away, and its market cap has settled at $375 billion. Its dominance over the altcoins has declined slightly after touching 40% yesterday and is now at 39.6%.

BTCUSD.  Source: Trading View
BTCUSD. Source: Trading View

XRP Steals the Show (Again)

The altcoins recovered some ground yesterday, and most are slightly in the green today as well.

Despite still being way below its price when the Merge occurred, Ethereum has added another 1% in the past 24 hours and sits close to $1,350.

Binance Coin, Cardano, Solana, Dogecoin, Polkadot, Shiba Inu, Tron, and Avalanche are also slightly in the green with similar percentages.

Polygon has jumped by about 5% in a day and trades close to $0.8. However, Ripple has stolen the show following the latest win in its legal battle against the US Securities and Exchange Commission. The native token – XPR – is up by double digits now and sits at almost $0.5.

LEO, XLM, and QNT have stood up as the biggest gainers from the mid-cap alts. As such, the overall crypto market cap has added a few billion daily and is close to $950 billion now.

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

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Cryptocurrency charts by TradingView.


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