The last 24 hours have been particularly encouraging as top cryptocurrencies slowly recover from their respective previous deep. Bitcoin (BTC) had recently experienced a price drop of around 14% breaking a major support level at $10,000. This influenced the whole market condition as many altcoins, including Ethereum (ETH) and Ripple (XRP) all recording a corresponding price reduction. However, over the last 24hours, the crypto market slowly recovered its losses and major cryptocurrencies are now rising up the charts.
Bitcoin (BTC) Price Update
BTC price was greatly influenced by the recent Libra’s Senate hearing activities in which BTC was seen to be trading below the $10,000 mark. Falling as low as $9, 350 area, bitcoin only started resurrecting within the last 24 hours in which price has moved up more than 7%
At the time of writing this market update, BTC is trading at $10,320. Within the last 24 hours, BTC was seen vacillating between $9700 and the $10,000 area to build strong support within the range.
Ethereum (ETH) Price Update
Ethereum began the week on a very bad note. Moving down more than 22%, ETH lost more than $59, touching a low of $198 by the end of the week.
However, the charts began to see some changes following the recent market reverse that was since in BTC within the past 48 hours. As ETH slowly recovers the market losses, it moved up the charts by 7% in the last 24 hours to record its current price of $222. Ethereum still shows major potentials to move further up the charts within the next few days.
Ripple (XRP) Price Update
Ripple, like major altcoins, also dropped drastically in price. Ripple (XRP) struggled on the charts in recent days as the general crypto market fell into great dips. As the market began to recover, ripple, however, remained silent and traded sideways instead.
Ripple dipped by around 15%. Landing at $0.285 per unit of the coin. Ripple is presently trading at $0.31, which represents a 3% 24-hour change.
Staff writer at Coingape. Certified cryptocurrency expert and Blockchain journalist covering crypto market analysis and general Blockchain adoption and development.
You can follow me on Twitter at @ShonubiDare or reach out to me at dare[at]coingape.com