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Weekend Watch: Ripple Soars 6%, Bitcoin Lost $20K Level

Summary:
Bitcoin’s price went through a somewhat surprising dip yesterday when the US announced the September job reports, which were better than expected. Most altcoins are also in the red now, with the obvious exception of Ripple. XRP has stolen the show once again, surging by almost 7%. Bitcoin Lost the K Mark Ever since the October 3 crash to below ,000, the landscape around the primary cryptocurrency was quite positive. The asset had bounced off that level and even jumped past ,000. This resulted in a price surge to a three-week high of ,500. BTC stalled there but remained above ,000 for a few days straight. However, the situation changed yesterday following the US job report, which beat expectations just slightly. While some still debate why that might is,

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Bitcoin’s price went through a somewhat surprising dip yesterday when the US announced the September job reports, which were better than expected.

Most altcoins are also in the red now, with the obvious exception of Ripple. XRP has stolen the show once again, surging by almost 7%.

Bitcoin Lost the $20K Mark

Ever since the October 3 crash to below $19,000, the landscape around the primary cryptocurrency was quite positive. The asset had bounced off that level and even jumped past $20,000.

This resulted in a price surge to a three-week high of $20,500. BTC stalled there but remained above $20,000 for a few days straight. However, the situation changed yesterday following the US job report, which beat expectations just slightly.

While some still debate why that might is, bitcoin dropped in a matter of minutes by almost $1,000. Nevertheless, it managed to defend $19,000 and now stands in a familiar range between that level and $20,000.

Consequently, its market capitalization has declined to below $375 billion, and its dominance over the altcoins has taken a minor hit by decreasing to 39.6%.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

XRP Stands Out

Most altcoins have mimicked BTC’s performance and are slightly in the red. Ethereum is down by about 2% daily, but it’s still north of $1,300.

Binance Coin dropped hard yesterday following the hack against BNB Chain. While the network has been restored, the native cryptocurrency is down by a few percentages to $281.

Cardano, Solana, Dogecoin, Polkadot, Shiba Inu, MATIC, Tron, and Uniswap are also in the red from the larger-cap alts.

The only exception from the top 10 is Ripple. XRP has jumped by 6% in a day and trades just over $0.5.

The cumulative market cap of all crypto assets has seen several billion gone in a day and is down to just under $950 billion on CoinMarketCap.

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

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