Bitcoin’s Price Tests $92K, Ripple (XRP) Bulls Looking for Next Targets (Market Watch)
The cryptocurrency market remained relatively calm throughout the weekend. Bitcoin maintained its price of over $90,000 and is now pushing higher once again. The total capitalization is expanding above $3.2 trillion on the back of gains of mid-cap cryptocurrencies.
Bitcoin Price Pushes $92K
As mentioned above, Bitcoin’s price remained within a relatively narrow range on Saturday and Sunday, with one exception yesterday.
The bears attempted to push BTC below $89K, but the buyers were very quick to scoop up some coins at a discount, providing for a V-shaped recovery.
At the time of this writing, BTC is trading at slightly less than $92,000 as the bulls are now testing this level. A clear breakout above it would make way for a challenge of the all-time high.
Meanwhile, as we reported earlier today, a few events might stir the crypto market in the upcoming days. These include:
- NVIDIA reports earnings on Wednesday.
- Existing home sales data on Thursday.
- MI consumer sentiment report on Friday.
It’s also worth noting that the industry is anticipating the resignation of the current chairman of the United States Securities and Exchange Commission. Nothing is official as of yet, but many took the open letter he wrote last week as a goodbye note.
Ripple Bulls Look for Next Targets
The altcoin market paints a mixed picture as some of the cryptocurrencies are going through marginal corrections. Examples include Ethereum, BNB, AVAX, SUI, Aptos, and more.
Others, on the other hand, are charting considerable gains. The past few days have all been about Ripple’s XRP, which exploded above $1 on Saturday and continues trading in the green, charting an increase of around 7.5% in the past 24 hours.
More impressive than XRP’s performance throughout the past day, however, is that of Hedera (HBAR), Mantra (OM), and Stellar (XLM). These are up by 30%, 27%, and 22%, respectively.
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