Ripple Explodes 11% on SEC-Lawsuit News, Bitcoin Eyes $20K (Market Watch)

Bitcoin reacted quite well to the last price drop two days ago and jumped to almost $20,000 in the last 24 hours.

Most of the alternatives are also in the green, and XRP is once again outperforming the rest of the larger caps.

Bitcoin Eyes $20,000

After an uncharacteristically quiet weekend, in which BTC spent around $19,000, the asset went on the offensive on Tuesday, when it broke above $20,000 for the first time in nearly two weeks.

However, this price increase was short-lived as the cryptocurrency was rejected at that coveted line. In a matter of hours, it fell below $19,000 and dropped to $18,500.

It reacted well to this decline and started to regain value with some speed. As a result, it soon traded above $19,000 and even tried to drop below $20,000 once again, but stopped at $19,800.

As of now, it’s a few hundred dollars away and its market cap has settled at $375 billion. Its dominance over altcoins has decreased slightly after touching 40% yesterday and now stands at 39.6%.

BTCUSD.  Source: TradingView
BTCUSD. Source: TradingView

XRP steals the show (again)

Altcoins regained some ground yesterday, and most are also slightly in the green today.

Despite being well below its price when the merger occurred, Ethereum has added another 1% in the past 24 hours and is near $1,350.

Binance Coin, Cardano, Solana, Dogecoin, Polkadot, Shiba Inu, Tron and Avalanche are also slightly in the green with similar percentages.

Polygon is up about 5% in a day and is trading near $0.8. However, Ripple has stolen the show after the latest victory in its legal battle against the US Securities and Exchange Commission. The native token, XPR, is up double digits now and stands at almost $0.50.

LEO, XLM and QNT have positioned themselves as the biggest gainers of the mid-cap alternatives. As such, the global crypto market capitalization has added a few billion daily and is now approaching $950 billion.

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

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