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XRP Bitcoin returns to US$79,000, XRP stays at US$1.40: MarketWatch
expects the market to show high volatility in the second half of the week. Bitcoin prices fell back after encountering resistance above $80,000 on Monday, hitting as low as $77,600 yesterday, and then rebounded to around $79,000 as of today. Most of the larger altcoins also performed strongly today, with Ethereum (ETH) trading steadily above $2,500, while Ripple (XRP) successfully defending against key support at $1.40.
BTC returns to US$79,000
Bitcoin's trend last week was relatively sluggish, mainly fluctuating between US$77,000 and US$79,000. However, prices briefly fell below the lower edge before bulls pushed for a sharp rise on Thursday. The rally peaked in early trading on Friday, when Bitcoin broke through the $82,000 mark for the first time, setting a new high since mid-May.
Although it failed to maintain at this high level, the subsequent correction was not too drastic, and Bitcoin remained above $81,000 for the next few hours. However, stronger-than-expected U.S. employment data released on Friday afternoon triggered a sharp decline, causing Bitcoin to fall below $79,000 at the close of the day.
Over the weekend, cryptocurrency prices rebounded and remained around $79,000. Bitcoin tried to break through the $80,000 resistance early Monday morning, but was quickly rejected. The price first dropped to US$78,800, and then the bears further pressed it to the aforementioned US$76,400. Despite this, the market responded well to this round of decline, jumping to more than $79,000 as of press time.
According to CoinMarketCap data, the market value of Bitcoin has risen to US$1.59 trillion, and its market dominance over altcoins has also risen to 58.8%.
XRP sticks to the $1.40 defense line
Ethereum has risen more than 1% in the past 24 hours, once again standing above $2,500. Solana (SOL) held on to the $100 support level, while HYPE hit a new record high of nearly $90 in the past 24 hours. Ripple (XRP) briefly fell below the key US$1.40 support level yesterday, but bulls successfully defended the level after rising 3.5% to US$1.44.
ZEC continued its strong rally, rising nearly 10% daily to US$1,240. The performance of DOT, ATOM and LIT was equally impressive. VVV's increase is unique, with a daily increase of more than 50%, and is currently trading at US$29.
According to CoinMarketCap data, the total market value of cryptocurrencies rose 0.54% daily to US$2.69 trillion.
