Ripple gains while Bitcoin remains below $20,000

A recent dip pushed Bitcoin below the $19,000 mark, but it has gradually recovered. This move followed yesterday’s 6% gain. Meanwhile, Ripple Coin (XRP) seems to be one of the notable digital tokens on the uptrend.

Investors suffered massive losses due to the ongoing crypto winter. Many believed that the Ethereum merger would stop the market’s downtrend. In contrast, most altcoins, including BTC, are depreciating.

Bitcoin fails to break above $20,000

Last week, Bitcoin made some promising moves towards the $23,000 price level. But, unfortunately, that’s where his upward journey ended. From then until now, the state of the crypto market has not been pretty, especially for investors.

After the US CPI numbers came in, BTC lost a few more thousands, falling to the $20,000 price mark. It held that position for a few weeks until it rose to around $20,500 on Sunday.

This looked like the start of a bullish move until Monday, when its price fell massively, touching the $18,300 price level. The three-month low became its lowest bearish benchmark. Since September 20, BTC has gained some momentum to reach $19,500.

The 24-hour gain of 1.72% trimmed its weekly losses to around 10.90%. While this looks like a good price move, the token and the crypto market remain in the red zone.

Ripple gains while Bitcoin remains below $20,000
Bitcoin Hovering Below $20,000 According to l BTCUSDT Chart on Tradingview.com

Recently, BTC struggled to recover the $19,000 price. It made some upward moves at the time. Unfortunately, BTC has lost about 2% of its value in the last 24 hours. Chances are it will sink even further before the market closes.

The token is now down to 39.4% in terms of dominance over other digital tokens. Meanwhile, its market capitalization has fallen to around $360 billion.

Ripple XRP Growth Mid Bear Market

Amid the bleeding market, XRP (Ripple) seems to be at the center of the gainers. Its development can be traced to the recent incident between Ripple Labs and the SEC. Ripple is trading at $0.4, up 10% in the last 24 hours.

Following Monday’s red band rally, several other cryptocurrencies gained some upside yesterday. Unfortunately, the green glory didn’t last long for these digital tokens, according to today’s market watch.

Among the digital assets with the biggest losses was Ethereum. Merge, as many believed, was meant to take Ether to some green heights. While this is possible, Ethereum is currently plummeting to an unknown price level.

A few days ago, Ethereum was trading just above the $1,600 mark. Days later, it fell just below $1,300. At the time of writing, Ethereum is trading at $1,311, roughly a 1% decrease over the past 24 hours.

Featured image from Pixabay, chart from TradingView.com

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