Monday, November 28, 2022

Ripple Soars 5% While Bitcoin Fights The $40K Price Range

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Ripple soars 5% while Bitcoin fights the $40K price range and DOGE also marked some slight gains as well so let’s read more today in our latest altcoin news.

The crypto market is in the red as BTC struggles to reclaim the $40K price point. On the other hand, most bigger altcoins like Ripple and DOGE marked some slight gains and are up by 5% and 4%. despite some greener movements, the first half of April was quite gentle for the markets and BTC started the month at $46,000 but since then it passed through some bigger turbulence and dropped below $40K.

btc price
Bitcoin’s Price, Source Trading View

Yesterday was a positive day for the leading asset as it maintained $41K and crossed $42K at one point but earlier today after the red trading session on Wall Street, the bears took contrl and pulled BTC below the $40K price point once again. BTC managed to recover some of the losses and now trades at more than $40K and this is about 2.5% less than its USD value from a day ago. The total marekt cap stands at $763 billion. As it often happens, most coins followed BTC and it is also in there but the second biggest crypto ETH is down by 2.5%. Luna lost about 7% of its USD Valuation despite the protocol’s BTC purchase in the past week. NEAR also headed south and dropped by 6%.

However, a few larger caps are in the green corner as those that recorded the biggest gains are DOGE and XRP. Ripple soars 5% and now trades at $0.8 which is the highest level for the past week. The first-ever meme coin pushed north too and made an increase of 4% while DOGE is often praised by the world’s richest person Elon Musk. The Tesla CEO made a $43 billion offer to acquire one of the biggest social media platforms Twitter whcih turned bullish for DOGE’s surge and the glboal crypto marekt cap is now $1.88 trillion and a 2% decrease over the past day.

crypto market
Cryptocurrency Market Overview, Source Quantify Crypto

As recently reported, BTC rallied to reclaim the $40K price point following a crash that saw it drop 15% in one day. At the time of writing, the leading crypto by market cap stands at $40,119 which is down by 4.7% on the day. ETH as the second biggest crypto by market cap reclaimed the psychological level of $3000 after dropping overnight and now stands at over $3000, marking a drop of 4.2%.

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