Markets
Ripple (XRP) Soars 13% Daily to 3-Month High, Bitcoin (BTC) Touches $66K (Market Watch)
Amid continued positive inflows towards spot Bitcoin ETFs, the price of the underlying asset continues to recover and hit $66,000 for the first time in nearly a month today.
Altcoins are also in the green, with XRP leading the pack after a 13% daily surge.
BTC stopped at $66K
Bitcoin’s price action went through extreme turbulence at the beginning of the month, culminating in a price drop to a three-month low below $54,000 on July 5. Since then, however, the asset has managed to recover over ten thousand.
The rebound started almost immediately with a jump to $58,000, and the cryptocurrency stayed there for several days. It wasn’t until the failed assassination attempt on US presidential candidate Donald Trump over the weekend that BTC spiked sharply and reclaimed the $60,000 line.
More gains came at the start of the current trading week, with bitcoin jumped to $63,000 yesterday and continued to climb over the past 24 hours. Another three-thousand increase resulted in $66,000 for the first time since June 20.
Despite losing about $1,000 since then, bitcoin now sits at just over $65,000. Its market cap is just over $1.280 trillion, and its dominance over alts still stands at 51.2% on CG.
Bitcoin/Price/Chart 17.07.2024. Source: TradingView
XRP on the run
Ripple’s native token has emerged as the best performing token today. The asset has went up by over 13% in the past 24 hours and is now trading at a multi-month high of its own at over $0.6. FET is the other large-cap alt with a similar surge that took it to $1.5.
Other impressive gainers from this group of crypto assets include SOL (6%), DOGE (5%), AVAX (8%), DOT (5%), APT (10%), XLM (8%), and ATOM (8%).
The cumulative market capitalization of all crypto assets 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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