The recent drop has pushed Bitcoin below the $19,000 mark, but it has gradually recovered. The action followed its 6% gain as of yesterday. Meanwhile, Ripple (XRP) appears to be among the notable digital tokens on the upside.
Investors have suffered huge losses due to the ongoing crypto winter. Many believe that the Ethereum consolidation will stop the downtrend of the market. On the contrary, most altcoins, including BTC, are dropping their prices.
Bitcoin fails to jump above $20,000
Last week, Bitcoin made some promising moves towards the $23,000 price level. But, unfortunately, this was where his ascending journey ended. From then until now, the state of the cryptocurrency market has not been pretty, especially for investors.
After the US CPI numbers were entered, BTC lost a few thousand more, dropping to the $20K price tag. It held that position for two weeks until it rose to about $20,500 on Sunday.
This seemed to be the start of an upward movement until Monday, when its price dropped significantly, reaching the $18,300 level. The three-month low has become a bearish low. As of September 20th, BTC gained some boost to reach $19,500.
24-hour growth of 1.72% cut its weekly losses to about 10.90%. Although this sounds like a good price move, the cryptocurrency and cryptocurrency market remains in the red.
BTC recently fought to regain the $19,000 price. He made some bullish moves at that time. Unfortunately, BTC has lost about 2% of its value in the last 24 hours. It will likely drop further before the market closes.
The token has now fallen to 39.4% in relation to its dominance over other digital tokens. Meanwhile, its market value has fallen to around $360 billion.
Ripple XRP Growth Amid a Bear Market
Amidst the market bleeding, XRP (Ripple) appears to be in the spotlight among the winners. Its growth can be traced back to the recent event between Ripple Labs and the SEC. Ripple is trading at $0.4, an increase of 10% in the last 24 hours.
After browsing in the red on Monday, several other cryptocurrencies gained a bullish boost yesterday. Unfortunately, the green glory of many of these digital tokens did not last, according to today’s market hour.
Among the digital assets with the highest losses was Ethereum. The merger, many believed, was supposed to take the ether to some green heights. While this is a possibility, Ethereum is currently dropping to an unknown price level.
A few days ago, Ethereum was trading at just over the $1600 mark. Days later, it was down to just under $1,300. At the time of writing, Ethereum is trading at $1,311, down around 1% in the last 24 hours.
Featured image from Pixabay, chart from TradingView.com