Ripple (XRP) Explodes 10% Daily, Bitcoin (BTC) Claims $58,000 (Weekend Watch)

Bitcoin price headed south on Friday evening as it broke above $58,000 and has held since then.

Altcoins have also turned green, with XRP, ADA, DOT, BCH and NEAR leading the pack from major highs.

BTC claims $58,000

The major cryptocurrency had a violent end to the previous business week, falling from over $58,500 on July 5 to a multi-month low of less than $54,000. Bulls intercepted the move over the weekend and took BTC to $58,500 once again.

Another volatile ride followed with a pump and dump in prices around $3,000 each at the start of the new business week. Bulls kept the pressure on and the cryptocurrency briefly topped $59,000 on a few occasions, the latest of which was after Thursday’s favorable US CPI numbers.

However, the asset failed to sustain the momentum and fell below $57,000 yesterday. Later on Friday, however, the picture changed once again and bitcoin jumped to just over $58,000 where it is also currently trading.

Its market cap has approached $1.15 trillion, but its dominance of the highs has taken a hit, falling to 50.6% in CG.

Bitcoin/Price/Chart 13.07.2024. Source: TradingView XRP steals the show

Most of the larger cap alternatives turned green today. Ethereum is up more than 2% and is now trading above $3,100. Binance Coin has gained 3% and is well above $535. Solana, Dogecoin, Tron and Avalanche have recorded similar gains.

The most impressive price increases came from the likes of Cardano (6.5%), Shiba Inu (5.5%), Polkadot (6.7%), Bitcoin Cash (7.2%) and NEAR Protocol (7.5 %).

However, Ripple’s native token has emerged as the biggest winner today. XRP is up 11% and is now trading above $0.5.

Similar gains from mid-cap alternatives come from the likes of XLM, ICP and MKR.

The total crypto market cap has added $50 billion overnight and now sits above $2.26 trillion on CG.

Cryptocurrency Market Overview. Source: QuantifyCrypto SPECIAL OFFER (Sponsored) Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive an exclusive welcome offer of $600 to Binance (full details).

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