Bitcoin price continues to consolidate and has failed to produce a significant and sustained move in either direction. Meanwhile, Ripple’s XRP is the only altcoin in the top 10 seeing a major rise.
Bitcoin Consolidation Continues
Over the last 24 hours, the price of Bitcoin failed to produce any significant and sustained movement in either direction and is pretty much trading right where it was yesterday during this time – around $39,000.
This does not mean that we did not see volatility, on the contrary. Yesterday, it transpired that Russian President Vladimir Putin admitted progress in talks with Ukraine. This propelled the market and the price of Bitcoin increased by approximately 3.6% in less than an hour and reached a high of $40,200. Unfortunately, the market spread out quite a bit and the gains were erased with the next hourly candle, which shows how much tension there is currently.
Overall, BTC is up 0.3% in the last 24 hours as traders look for the next direction.
Altcoins Trading Flat, XRP Surprises
The altcoin market was also relatively dull in the last 24 hours, with a few exceptions. Most major cryptocurrencies, like BTC, are trading flat, as seen in the heat map below.
Source: quantify crypto
One of the altcoins that is moving against the pack today is Ripple. XRP is up over 7% in the last 24 hours and is currently testing resistance at $0.8. It is also the best performer of the top 10. At the other end of this spectrum, we have LUNA which is apparently cooling off after a big rally and is now down 8% on the day.
Overall, the best performing cryptocurrency in the top 100 is XIDO, up 30%, while the worst performing cryptocurrency is ANC, down 9%.
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This post Bitcoin Consolidation Continues, Ripple (XRP) Soars 7%
was published first on https://cryptopotato.com/weekend-watch-bitcoin-consolidation-continues-ripple-xrp-skyrockets-7/