XRP Taps $2.50 Ahead of ETF Debut, BTC Recovery Stopped at $104K: Market Watch
Bitcoin’s price experienced an immediate uptick after Trump signed legislation to resume the US government’s operations, but it was stopped at $104,000.
Most larger-cap altcoins continue with their sluggish performance, aside from XRP, which has charted a 3.5% increase ahead of the much-anticipated debut of a spot ETF in the United States.
BTC Stopped at $104K
The primary cryptocurrency has been in an evident decline for a while now. Its price tumbled from over $111,000 at the start of the month to under $100,000 during the previous business week, and the subsequent recovery attempt has been quite underwhelming.
The most impressive rebound occurred on Monday, hours after US President Trump promised $2,000 tariff checks to some Americans and hinted that the government shutdown might be coming to an end. This resulted in a price surge to just over $107,000 for BTC, but that was another fakeout.
In the following few days, bitcoin headed south once again and slipped to under $101,000 yesterday evening. Then, the POTUS signed legislation to reopen the government’s operations, which pushed BTC to just over $104,000 on Thursday morning.
However, that was as far as the asset would go, at least for now, and it has since lost more than a grand. It now struggles below $103,000, while its market capitalization has declined to $2.050 trillion. Its dominance over the alts has also taken a hit and is down to 57.5% on CG.
BTCUSD. Source: TradingView
XRP to $2.50
Perhaps the biggest news in the crypto community today is the highly anticipated launch of the spot XRP ETF in the US after the last hurdle fell. Ahead of the event, the underlying asset’s price jumped by more than 3% and sits above $2.50 as of press time.
The rest of the larger-cap alts are a lot less volatile. ETH, TRX, BCH, and XLM are with minor gains, while BNB, SOL, DOGE, ADA, LINK, and HYPE are slightly in the red. ZEC has returned to $500 after a 4% increase, while UNI and TAO have dumped hard over the past day of up to 8%.
The total crypto market cap struggles at just under $3.6 trillion on CG.
Cryptocurrency Market Overview Daily. Source: QuantifyCrypto
The post XRP Taps $2.50 Ahead of ETF Debut, BTC Recovery Stopped at $104K: Market Watch appeared first on CryptoPotato.
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