Ripple (XRP) Falls Below $0.55, Bitcoin (BTC) Loses $28K: Market Watch

Bitcoin has finally calmed down after the recent volatility and the asset is currently trading inches away from $28,000.

Most altcoins are slightly in the red today, with ETH falling below $1,800 and XRP hovering between $0.5 and $0.55.

Bitcoin stalls below $28K

The primary cryptocurrency dumped hard on Monday from over $28,000 to $26,500 after the US CFTC sued the world’s largest digital asset exchange – Binance – and its CEO – Changpeng Zhao. Bitcoin stopped below and around $27,000 for a day or two, but the bulls recalled their presence mid-week.

They pushed the asset northward, culminating in a price rally above $29,000 on Thursday. However, it was short-lived as BTC failed to continue upwards or even stay at the same level. It started to lose value quickly and went back to $28,000 hours later.

The last 24 hours brought more pain as the cryptocurrency fell further below $27,600. It has recovered a bit since then, but remains below $28,000.

The market value has fallen to 535 billion dollars. Its dominance over the alts has also taken a hit and is down to 46% after rising above 46.5% yesterday.

HBAR shoots in the air, XPR reassures

Ripple’s native token has been among the best performers in recent weeks, perhaps fueled by speculation about positive developments in the company’s lawsuit against the US Securities and Exchange Commission. This rally sent XRP up 60% weekly at one point. The asset has now finally calmed down on the daily scale and is near $0.55.

Ethereum. Binance Coin, Dogecoin and Shiba Inu have minor losses, while MATIC, SOL and LTC have declined up to 3% in a day. In contrast, ADA, DOT, TRX and AVAX have produced insignificant gains.

HBAR is the best performer of the mid-cap alts, having gained 9% to trade at $0.07.

With most other mid- and lower-value altcoins charting smaller losses, the overall crypto market capitalization has seen $30 billion disappear in a single day.