The trading volumes have gone down during the weekend, resulting in BTC failing to produce any significant moves in either direction.
The altcoins have also stalled on a daily scale, while XRP has emerged as one of the best performers for the past seven days.
Bitcoin Boring at $27.5K
A lot happened in the cryptocurrency industry in the past few weeks, and bitcoin has somewhat expectedly taken a break now.
The asset exploded from under $20,000 to over $28,000 during the US banking crisis, which actually expanded to Europe, with UBS having to acquire Credit Suisse and Deutsche Bank’s stocks plummeting . The Fed’s latest interest rate hike on Wednesday brought more volatility to BTC, which dumped by $2,000 in hours.
However, the bulls came back to play almost immediately, and bitcoin spiked to over $29,000 briefly on Friday. After charting yet another 9-month high above that level, the cryptocurrency retraced to under $28,000, where it has remained for the past few days.
Its market capitalization has remained under $540 billion, while its dominance over the altcoins stands still at 46.2%.
BTCUSD. Source: TradingView
XRP Up 21% Weekly
With the declining trading volumes across all charts, it’s somewhat expected that the altcoins have remained relatively stable on a daily scale. Ethereum trades close to $1,800 following a minor 1.3% increase. Similar gains are evident from Binance Coin, Dogecoin, MATIC, Solana, Litecoin, Tron, and Avalanche.
Ripple is the only top 10 altcoin with a more notable price increase. XRP is up by almost 4% in a day and more than 21% within the past week. As such, the asset stands just above $0.45.
ARB has recovered some of yesterday’s losses, having jumped by 6.5% to almost $1.3. LDO, XMR, and XLM are the other top performers from the mid-cap alts, as all are up by around 3%.
The overall crypto market cap stands at the same spot as yesterday at $1.150 trillion.
Cryptocurrency Market Overview. Source: Quantify Crypto
The post Ripple (XRP) Soars 21% Weekly, Bitcoin (BTC) Stalls Above $27K: Weekend Watch appeared first on CryptoPotato .