The cryptocurrency market update: Ripple's XRP is a star, Bitcoin lags behind
- Bitcoin has regained some ground after a sell-off during early Asian hours.
- XRP is the best-performing asset out of top-20 with over 9% of gains.
There is a never-ending sense of uncertainty on the cryptocurrency market Bitcoin is hovering $8,000, while some major altcoins including Ripple’s XRP demonstrate strong gains. The market capitalization of all digital assets in circulation increased to $216 billion from $216 billion on Monday morning, while an average daily trading volume edged up to $52 billion. Bitcoin is losing its market share rapidly. Now the market dominance of the world’s largest crypto coin is only 66.6%
Top-3 coins price overview
BTC/USD has regained some ground though the short-term trend remains bearish. At the time of writing, the coin is changing hands at $8,050 in recent 24 hours and regained 2% since the beginning of the day. We will need to see a sustainable move above $8,000 to mitigate the initial bearish pressure.
Ethereum, the second-largest digital asset with the current market capitalization of $18.9 billion, has gained over 3% on Monday to trade above $175.00. Notably, ETH/USD dropped below $170.00 and tested $168.83 during early Asian hours, but managed to recover.
Ripple’s XRP is the best-performing altcoin out of top-10. XRP/USD has grown by more than 6% since this time on Sunday and over 9% since thee beginning fo the day. The coin tested area above $0.2800. By the time of writing, XRP/USD retreated to $0.2750.
Author
Tanya Abrosimova
Independent Analyst
