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Ripple Explodes 22% Daily, Bitcoin Flat at $19K (Market Watch)

Ripple Explodes 22% Daily, Bitcoin Flat at $19K (Market Watch)

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After marking a new three-month low yesterday, Bitcoin went on the offensive and regained $19,000.

Most altcoins are also slightly in the green today. Ripple, on the other hand, is this week’s top performer with a massive 60% gain. In the last 24 hours alone, the property has increased by more than 20 percent.

XRP takes the stage

Altcoins had a pretty tumultuous few trading days, especially after the US Federal Reserve raised interest rates by 75 basis points.

Ethereum, which has underperformed since last week’s Merge, fell to a multi-month low of around $1,200. However, its value started to recover quite quickly and bounced above $1,300. Another 4% gain in the last 24 hours has pushed ETH to $1,330.

Binance Coin, Cardano, Solana, Dogecoin, Polkadot, Shiba Inu, MATIC and Tron are also slightly greener than the bigger alts.

However, Ripple continues to steal the show. The native cryptocurrency has skyrocketed another 22% in the past 24 hours to over $0.5. The property has increased in value by more than 60% every week.

XLM, CRO, ALGO, XCN and CHZ have all jumped by double-digit percentages in smaller letters.

Crypto market cap nears $950 billion after $20 billion daily gains.

Cryptocurrency Market Overview. Source: Quantify Crypto

Bitcoin returns to $19,000

The primary cryptocurrency was also negatively affected by the US Federal Reserve’s actions. It traded at $19,000 and jumped to $20,000 before the Fed’s announcement.

Within minutes, however, the property plummeted by nearly $2,000. As such, it made a new three-month low of just over $18,000.

Nevertheless, the bulls rallied at that moment and pushed BTC north. Yesterday it was $19,000, but earlier today it rose to $19,500. So far it’s up a few hundred dollars, but is still north of $19,000.

Its market cap is once again below $370 billion, and its dominance of altcoins has once again risen to 39%.

BTCUSD.  Source: TradingView
BTCUSD. Source: TradingView
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