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Friday, July 19, 2024

Bitcoin Drifts Away From $31K, Ripple (XRP) Fails at $0.5: Market Watch

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The past 24 hours saw the total cryptocurrency market slow down and decline, with the majority of coins charting slight decreases.

The total capitalization is sliding toward $1.2 trillion on the backs of losses from Bitcoin and the rest. Let’s dive in.

Bitcoin Price Unable to Break $31K

Bitcoin’s price is down 1.2% in the past 24 hours and is trading closer to $30K, at the time of this writing. The cryptocurrency has been unable to maintain above $31K. It poked above it yesterday, but the bears were quick to intercept it and even brought the price down to around $30K.

BTC was able to recover, and it currently trades at around $30,400.

Source: TradingView

The broader market sentiment has decreased substantially since yesterday, though. That’s according to the popular Fear and Greed Index, which tumbled from 64 points to 55 today.

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Ripple (XRP) Slips Away From $0.5

As seen in the below cryptocurrency heatmap, green is an exception today, with most of the altcoins trading well in the red.

Source: Quantify Crypto

It’s worth noting that Ripple’s XRP is sliding away from $0.5 as the battle against the US Securities and Exchange Commission rages on.

Elsewhere, today’s best performer so far is NEAR. This is because the NEAR Foundation partnered with Alibaba, as reported by CryptoPotato earlier today. The announcement saw the price skyrocket by more than 12%, but it has since retraced a bit, still up around 8% in the past 24 hours. APE is the second-best performer, gaining 5.2% on the day.

On the other end of the spectrum, there’s AAVE – it’s down 11%, giving back some of yesterday’s astonishing rally. Synthetix Network (SNX) is a close second, with 9.3% in the red.

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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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