Bitcoin Consolidation Continues, Ripple (XRP) Soars 7%

Bitcoin price continues to consolidate and has failed to produce significant and sustained movement in any direction. Meanwhile, Ripple’s XRP is the only top 10 altcoin that is seeing a serious surge.

Bitcoin Consolidation Continues

Over the past 24 hours, Bitcoin’s price has not produced any significant and sustained movement in either direction and is trading roughly where it was yesterday during this time – at around $39,000.

This does not mean that we have not seen volatility, on the contrary. Yesterday, reports emerged that Russian President Vladimir Putin admitted progress had been made in talks with Ukraine. This supported the market and the price of Bitcoin jumped around 3.6% in less than an hour and hit a high of $40.2,000. Unfortunately, the market was rather scattered and the gains were erased with the next hourly candle, showing just how much tension there is currently.

Source: Trading View

In total, BTC is up around 0.3% in the past 24 hours as traders look for the next direction.

Altcoins Trading Flat, XRP Surprises

The altcoin market has also been relatively dull over the past 24 hours, with a few exceptions. Most major cryptocurrencies, just like BTC, are trading flat, as shown in the heatmap below.

Source: Quantify Cryptography

One of the altcoins moving against the herd today is Ripple. XRP has risen over 7% in the past 24 hours and is currently testing resistance at $0.8. It is also the best performer in the top 10. At the other end of this spectrum, we have LUNA which appears to be cooling after a major 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 is ANC, down 9%.


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