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Market Watch: Ripple (XRP) Crashes 20% and Loses The 3rd Spot to Tether

Summary:
A few days after the price dip beneath ,000, bitcoin has recovered most losses and even took another swing at ,000 earlier today. Most altcoins have remained relatively steady, apart from XRP. The recently announced charges from the SEC have plummeted the token’s value.Bitcoin Eyes KBitcoin has been on a wild ride in the past several days. It began by painting a new all-time high of about ,300, but the subsequent rejection drove the asset down by more than ,000 in hours.BTC initially bounced off and reclaimed ,000, but it was short-lived. Nevertheless, bitcoin initiated another impressive leg up in the past 24 hours. At the time of this writing, BTC is trading at around ,500.Naturally, the most significant resistance to consider ahead is the current all-time high,

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A few days after the price dip beneath $22,000, bitcoin has recovered most losses and even took another swing at $24,000 earlier today. Most altcoins have remained relatively steady, apart from XRP. The recently announced charges from the SEC have plummeted the token’s value.

Bitcoin Eyes $24K

Bitcoin has been on a wild ride in the past several days. It began by painting a new all-time high of about $24,300, but the subsequent rejection drove the asset down by more than $2,000 in hours.

BTC initially bounced off and reclaimed $23,000, but it was short-lived. Nevertheless, bitcoin initiated another impressive leg up in the past 24 hours. At the time of this writing, BTC is trading at around $23,500.

Naturally, the most significant resistance to consider ahead is the current all-time high, though the markets are particularly volatile and extreme caution is advised.

Alternatively, the support lines at $22,700, $22,300, and $21,950 could assist in case of another vigorous price drop.

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BTC/USD. Source: TradingView

Stalling Alts, Plummeting XRP

Most alternative coins have been rather calm on a 24-hour scale. Ethereum has registered minor gains and has increased above $616. Binance Coin and Polkadot have also expanded to above $33 and nearly $5, respectively.

Litecoin has gained the most from the top ten with an 8.7% surge to $110. In contrast, Cardano and Bitcoin Cash have lost some steam.

However, Ripple has continued to dump in value. As reported yesterday, the SEC pressed formal charges alleging that the payment processor conducted a $1.3 billion unregistered security offering. As a result, XRP’s price has nosedived by more than 21% in a day to $0.36.

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Cryptocurrency Heatmap. Soource: QuantifyCrypto

THETA is the most impressive gainer with a 12% surge, and the asset has exceeded above $1.1. Monero (6%), UNI (6%), Nexo (5%), NEM (5%), THORChain (5%), Kusama (5%), and MaidSafeCoin (5%) follow.
In contrast, Stellar has dropped by 7%, HedgeTrade by 5.5%, and Ocean Protocol by 5%.

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