Ripple (XRP) Skyrockets 17% as Bitcoin Finds Trouble at 57K Area (Market Watch)

Bitcoin continues to suffer below the coveted $60,000 and stands about three thousand dollars below after another slump. As such, its dominance has declined even more as some altcoins have marked serious gains. Ripple leads the larger-cap pack with a 17% daily surge to just shy of $0.70.

XRP Leads the Altcoin Way

The past few days have been somewhat stagnant for the larger-cap altcoins as most have failed to display any significant price movements. The situation is relatively similar in the past 24 hours.

Ethereum has remained just above $2,000, Binance Coin is still beneath $340, Polkadot (-3%) is down to $42, and Cardano stalls around $1.20. On the other hand, Uniswap, Litecoin, and Chainlink have shown minor gains.

However, Ripple has outperformed all top-ten altcoins. The payment processor’s native digital token, XRP, has surged by roughly 17% to above $0.68. This is the highest price tag the asset has seen since early February when it pumped above $0.70 briefly.

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

Somewhat expectedly, lower- and mid-cap altcoins are even more fluctuating. WazirX leads the way with a massive 220% surge in a day and an over 1,000% increase in a week to $5,50.

BitTorrent is next with a 60% daily rise and 250% weekly pump to $0.0.12. Stacks (55%), Flow (36%), TRON (20%), Dent (20%), OMG Network (19%), Zilliqa (17%), Siacoin (15%), and Holo (14%) are next.

The skyrocketing lower cap alts have helped the crypto market cap to remain above $1.9 trillion.

Bitcoin Struggles at $57K, Dominance Reduced

The primary cryptocurrency has failed repeatedly to overcome $60,000. Bitcoin initiated several such attempts but to no avail so far.

The last one drove the asset $3,500 down, as BTC has yet to recover from this steep price decline. In the past 24 hours, bitcoin went to a daily high of $58,500 but has dropped again and currently struggles to remain above $57,000.

BTC’s indecisiveness has given the alts an opportunity to reduce its dominance over the market further. The metric comparing bitcoin’s market capitalization with all other crypto assets is down to 56%, according to CoinMarketCap. Just a few weeks ago, it was well above 60%.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView
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