Ripple (XRP) Is This Week’s Best Performer With 18% Gains (Market Watch)

By akohad Oct10,2022


Bitcoin initiated a minor leg up in the past 24 hours but was stopped in its tracks and is now close to breaking below $19,000.

Most altcoins sit calmly with minor daily losses. On a weekly scale, though, XRP has emerged as the best performer from the larger caps.

Bitcoin to Test $19K Support?

The primary cryptocurrency’s price was on a roll last week when it pumped to a three-week high at around $20,500. Although it failed to continue upward, it remained above the coveted $20,000 line for a few days.

However, the landscape changed when the latest US job report came out. Even though it beat expectations, it sent BTC south hard, and the asset fell by almost $1,000 in an hour or so.

The weekend brought some more pain as bitcoin fell beneath $19,300. It bounced off and jumped to $19,600 hours ago, but the bears came back to play and pushed it south again to just over $19,000 – a new weekly low.

Its market capitalization has taken a minor hit and is down below $360 billion, while its dominance over the alternative coins is stuck at 39.5%.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

XRP’s This Weeks Winner

The low trading volumes from Saturday continued on Sunday as well, and most altcoins have remained calm.

Ethereum has lost another 1% in the past 24 hours and now stands just inches above $1,300. Solana, Polkadot, and MATIC have shown similar performances.

Although XRP is down by 0.5% in the past 24 hours as well, the asset is up by about 18% for the past week. As such, it’s the best performer from the larger-cap alts and trades above $0.5.

Back on a daily scale, BNB, Cardano, Dogecoin, and Shiba Inu have charted even more losses of up to 2.5%. QNT was yesterday’s top gainer, but it has retraced by 7% now.

The cumulative market cap of all crypto assets has seen about $10 billion gone in a day and is down to $930 billion.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto

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Cryptocurrency charts by TradingView.


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By akohad

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