Ripple (XRP) defies market sentiment with 8% rise, Bitcoin (BTC) struggles at $66,000 (Market Watch)

Bitcoin price struggles continued in the last day as the asset fell to $65,300 for the first time since last Friday amid uncertainty over the US government.

Altcoins are also in the red today, apart from XRP, which soared to a multi-month high of over $0.66 earlier.

BTC dropped to $65.3k

The major cryptocurrency had a wild end to the previous business week, falling below $63,500 on Thursday, but rallied to $67,000 soon after. The weekend was also quite volatile due to Donald Trump’s appearance at the Bitcoin conference in Nashville, and the asset went down and up three thousand in a few hours on Saturday evening.

Monday started off on a high note, with the cryptocurrency jumping to a 7-week high of $70,000. However, this was short-lived as the bears stopped the movement.

Bitcoin was violently rejected at this point and was pushed south by almost $5,000. As a result, it hit a multi-day low of $65,300 (on Bitstamp).

Although it has been able to regain some ground, BTC remains in the red on the daily scale at just over $66,000. Its market cap has shrunk to $1.310 trillion, while its hold on the highs has dropped to 52.3% at CG.

Bitcoin/Price/Chart 31.07.2024. Source: TradingView XRP defies the odds

Most of the higher-cap highs followed BTC’s pullback yesterday, and the picture isn’t that different today. While ETH, BCH, and ADA have suffered minor losses over the past 24 hours, DOGE, TRX, AVAX, SHIB, LINK, DOT, and UNI have declined by around 3% each.

In contrast, Ripple’s native token has defied all sentiment and hit a multi-month high of over $0.66 today. You can check here some of the possible reasons for this demonstration.

KAS, XLM and BNB have increased in value since yesterday, but they are also exceptions.

The total crypto market cap has decreased by another $20 billion and is now down to $2.5 trillion in CG.

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