Ripple (XRP) Plummets 9% Weekly, Cardano (ADA) Follows Suit: Market Watch

BitcoiThe past 24 hours saw the broader cryptocurrency market, with slight exceptions, consolidate without any major movements across the board.

The week, however, hasn’t painted a good picture for a lot of coins, including Ripple’s XRP and Cardano’s ADA, both of which are down by about 9%.

Let’s dive in.

Bitcoin’s Price Solid Above $30K

Leading into the end of the week, Bitcoin’s price has remained somewhat solid, above $30K.

The cryptocurrency did dip below the pivotal level yesterday evening (EU timezone) but managed to recover immediately. The bulls were so far successful in defending the major psychological point.

Source: Trading View

Throughout the same period of time, Bitcoin’s dominance has remained relatively flat, indicating that the primary cryptocurrency has failed to gain any traction relative to the rest of the market.

XRP, ADA Suffer on Weekly

XRP and ADA have both suffered considerably throughout the past seven days, but they are also down in the last 24 hours as well.

Source: Quantify Crypto

As seen in the heatmap above, the altcoin market is giving mixed signals with no significant moves in either direction.

Today’s best performer is Stacks (STX), which is up 6%, followed by Synthetix Network (SNX) – up 4%. Most of the remaining altcoins are trading flat or are charting slight losses.

The one that lost the most is Radix (XRD), which continues bleeding. The cryptocurrency is down 16% during the day.

The crypto market sentiment is currently neutral. This is according to the popular Fear and Greed Index. It has declined substantially since yesterday when the market was in a state of Greed.


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Cryptocurrency charts by TradingView.

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