A recent plunge pushed Bitcoin below $19,000 but it gradually recovered. This move followed yesterday’s 6% gain. Meanwhile, Ripple Coin (XRP) appears to be one of the notable digital tokens in the bullish trend.
Investors have suffered huge losses due to the ongoing crypto winter. Many believed that the Ethereum Merge would stop the bearish trend of the market. On the contrary, most altcoins, including BTC, are depreciating their prices.
Bitcoin Won’t Jump Above $20,000
Last week, Bitcoin made some promising moves towards the $23K price level. Unfortunately, that’s where his bullish journey ended. From then until now, the state of the crypto market has not been pretty, especially for investors.
After the introduction of the US CPI figures, BTC lost a few thousand more, dropping to the $20,000 mark. It held this position for a few weeks until it rose to around $20,500 on Sunday.
That looked like a start for a bullish move until Monday, when the price plummeted and hit the $18,300 price level. The three-month low became the bearish benchmark lowest. As of September 20, BTC got a boost to reach $19,500.
The 24-hour growth of 1.72% reduced weekly losses to about 10.90%. While this seems like a good price move, the token and crypto market remains in the red zone.
Recently, BTC fought to get back the $19K price. It made some bullish moves at the time. Unfortunately, BTC has lost about 2% of its value in the past 24 hours. Chances are it will drop even further before the market closes.
The token has now dropped to 39.4% in regards to its dominance over other digital tokens. Meanwhile, the market cap has fallen to about $360 billion.
Ripple XRP Growth Amid Bear Market
Amid the bleeding market, XRP (Ripple) seems to be in the spotlight among the winners. The growth can be traced to the recent event between Ripple Labs and the SEC. Ripple is trading at $0.4, up 10% in the past 24 hours.
After Monday’s red zone parade, several other digital currencies received some bullish push yesterday. Unfortunately, the green glory didn’t last for many of these digital tokens, according to the current market watch.
One of the highest-loss digital assets was Ethereum. The Merge, as many believed, was meant to take Ether to some green heights. While that is likely, Ethereum is currently plummeting to an unknown price point.
A few days ago, Ethereum was trading at just over $1,600. Days later, it fell to just under $1,300. At the time of writing, Ethereum is trading at $1,311, which is roughly a 1% drop in the past 24 hours.
Featured image from Pixabay, chart from TradingView.com
