Bitcoin (BTC) Uncertain at $30K, Ripple (XRP) Eyes $0.8: Market Watch

After registering yet another multi-week low at $29,500 yesterday, bitcoin bounced off and tapped $30,000 earlier today.

Most altcoins are with insignificant gains, aside from ADA, XRP, BCH, and XLM, all of which are up by somewhere between 2% and 8%.

BTC Back at $30K

Ever since last week’s massive gains, propelled by Ripple’s court win over the SEC, which took bitcoin to a 13-month high at $31,800, the landscape around the primary cryptocurrency has been rather shaky.

The asset couldn’t keep its momentum going and retraced by almost two grand in the following days to $30,000. It managed to stand above that line during the weekend and on Monday but headed straight south on Tuesday.

This resulted in charting an 18-day low of $29,500 (on Bitstamp) yesterday. The bulls intercepted the move and pushed it to the coveted $30,000 line as of now.

The asset’s market capitalization has taken a slightly hit in the past few days and is just above $580 billion. Its dominance over the alternative coins is down as well, to 48.4%.

BTCUSD. Source: TradingView## XRP Heading for $0.8

As expected, XRP experienced the most significant price surge last week following Judge Analisa Torres’ decision to rule in favor of the blockchain company. The native token almost doubled in price in a day and reached $0.95 to mark a 19-month peak.

However, it retraced heavily in the next few days. The past 24 hours have been more positive as XRP is back on the offensive and sits close to $0.8 after a notable investment from Ripple in a company operating in the growing fields of AI and metaverse.

Cardano is up by 2.5% and trades above $0.3, while ETH, BNB, SOL, DOGE, and LTC are with more modest gains. Bitcoin Cash has added 4% of value and sits at $245.

Stellar has jumped the most from the larger-cap alts (8%) and stands close to $0.15.

In total, the crypto market cap has added a few billion in a day and remains above $1.210 trillion on CMC.

Cryptocurrency Market Overview. Source: Quantify Crypto