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Home » Market Updates » Ripple Explodes 22% Daily, Bitcoin Flat at $19K (Market Watch)

Ripple Explodes 22% Daily, Bitcoin Flat at $19K (Market Watch)

Author: Jordan Lyanchev

Last Updated Sep 23, 2022 @ 14:08

XRP has soared above $0.5, while ADA is up by 5% following the implementation of the Vasil update.

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After marking a new three-month low yesterday, bitcoin went on the offensive and reclaimed $19,000.

Most altcoins are also slightly in the green today. Ripple, on the other hand, is this week’s best performer with a massive 60% surge. In the past 24 hours alone, the asset is up by more than 20%.

XRP Takes the Stage

The alternative coins had a few quite turbulent trading days, especially after the US Federal Reserve increased the interest rate by 75 basis points.

Ethereum, which has underperformed since last week’s Merge, dumped to a multi-month low at around $1,200. However, it began recovering value rather rapidly and bounced off to over $1,300. Another 4% increase in the past 24 hours has driven ETH to $1,330 as of now.

Binance Coin, Cardano, Solana, Dogecoin, Polkadot, Shiba Inu, MATIC, and Tron are also slightly in the green from the larger-cap alts.

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Ripple, though, continues to steal the show. The native cryptocurrency has skyrocketed by another 22% in the past 24 hours to over $0.5. The asset has added over 60% of value on a weekly scale.

XLM, CRO, ALGO, XCN, and CHZ have all jumped by double-digit percentages from the lower-cap alts.

The crypto market cap is up to almost $950 billion after a $20 billion daily increase.

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

Bitcoin Goes Back to $19K

The primary cryptocurrency was also negatively impacted by the US Fed’s actions. It traded at $19,000 and jumped to $20,000 ahead of the central bank’s announcement.

In a matter of minutes, though, the asset plummeted by almost $2,000. As such, it painted a new three-month low of just over $18,000.

Nevertheless, the bulls stepped up at that moment and pushed BTC north. Yesterday, it touched $19,000, but it went to $19,500 earlier today. As of now, it has retraced by a few hundred dollars but still stands north of $19,000.

Its market capitalization is back beneath $370 billion, and its dominance over the altcoins has taken another hit to 39%.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView
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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.
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About The Author

Jordan Lyanchev
More posts by this author

Jordan got into crypto in 2016 by trading and investing. He began writing about blockchain technology in 2017 and now serves as CryptoPotato's Assistant Editor-in-Chief. He has managed numerous crypto-related projects and is passionate about all things blockchain. Contact Jordan: LinkedIn

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