Markets
Ripple (XRP) Skyrockets 13% to 3-Month Daily High, Bitcoin (BTC) Hits $66K (Market Watch)
Despite continued positive inflows into spot Bitcoin ETFs, the price of the underlying asset continues to recover and today hit $66,000 for the first time in about a month.
Altcoins are also seeing strong growth, with XRP leading the way after a 13% daily increase.
BTC stopped at $66K
Bitcoin’s price action went through extreme turbulence at the start of the month, culminating in a price crash to a three-month low of under $54,000 on July 5. Since then, however, the asset has managed to recover more than ten thousand dollars.
The rebound started almost immediately with a jump to $58,000, and the cryptocurrency remained there for several days. Only after the failed assassination attempt on US presidential candidate Donald Trump over the weekend did BTC see a sharp spike and reclaim the $60,000 line.
Further gains occurred at the start of the current business week, as bitcoin jumped at $63,000 yesterday and has continued to rise over the past 24 hours. Another three thousand dollar increase has brought it to $66,000 for the first time since June 20.
Despite losing about $1,000 since then, bitcoin now stands at just over $65,000. Its market cap is slightly above $1.280 trillion, and its dominance over alts is stuck at 51.2% on CG.
Bitcoin/Price/Chart 07/17/2024. Source: TradingView
XRP on the run
Ripple’s native token has emerged as the best performing token today. The asset has flew by over 13% in the last 24 hours and is now trading at a multi-month high above $0.6. FET is the other largest alt-cap with a similar surge that has taken it to $1.5.
Other impressive gainers from this cryptocurrency cohort include SOL (6%), DOGE (5%), AVAX (8%), DOT (5%), APT (10%), XLM (8%), and ATOM (8%).
The cumulative market cap of all cryptocurrencies increased by over $80 billion overnight and now stands at just over $2.5 trillion on CG.
Cryptocurrency Market Overview. Source: QuantifyCrypto SPECIAL OFFER (sponsored)
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