Cryptocurrency

Bitcoin

Avalanche

Bitcoin dropped by over a grand in the past 24 hours and registered its lowest price tag in about a week earlier today.
The altcoins are also slightly in the red now, with LDO dumping the most (over 6%).
<h2 id="bitcoin-slips-under-27k">Bitcoin Slips Under $27K</h2>
Last week&#8217;s unfavorable market conditions culminated on Friday when BTC slumped to a two-month low at $25,800. However, the asset bounced off during the weekend, and spent most of it at around $27,000.
Monday began on a more positive note as BTC jumped to $27,600. However, it failed there and quickly lost all daily gains. Another <a href="https://cryptopotato.com/bitcoin-pushes-past-27k-render-rndr-explodes-20-daily-market-watch/" data-wpel-link="internal">leg up came</a> on Wednesday, but the bears intercepted the move once again, and BTC was unable to challenge $27,500.
The subsequent rejection was a lot more violent than the previous one. It took bitcoin south by a grand, and it plummeted to a weekly low of $26,400. Despite regaining several hundred dollars since then, bitcoin still trades under $27,000 as it&#8217;s 2% down on the day.
As a result, its market capitalization has slumped back down to $520 billion, while its dominance over the altcoins sits tight at 46.3%.
<figure id="attachment_251340" aria-describedby="caption-attachment-251340" style="width: 1834px" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2023/05/BTCUSD-18.png" data-wpel-link="internal"><img class="size-full wp-image-251340" src="https://cryptopotato.com/wp-content/uploads/2023/05/BTCUSD-18.png" alt="BTCUSD. Source: TradingView" width="1834" height="907" srcset="https://cryptopotato.com/wp-content/uploads/2023/05/BTCUSD-18.png 1834w, https://cryptopotato.com/wp-content/uploads/2023/05/BTCUSD-18-300x148.png 300w, https://cryptopotato.com/wp-content/uploads/2023/05/BTCUSD-18-1024x506.png 1024w, https://cryptopotato.com/wp-content/uploads/2023/05/BTCUSD-18-768x380.png 768w, https://cryptopotato.com/wp-content/uploads/2023/05/BTCUSD-18-1536x760.png 1536w, https://cryptopotato.com/wp-content/uploads/2023/05/BTCUSD-18-50x25.png 50w" sizes="(max-width: 1834px) 100vw, 1834px" /></a><figcaption id="caption-attachment-251340" class="wp-caption-text">BTCUSD. Source: TradingView</figcaption></figure>
<h2 id="xrp-defies-market-sentiment">XRP Defies Market Sentiment</h2>
Most of the altcoins have also followed suit with minor daily declines. Ethereum, for one, has retraced by around 1% and is close to breaking below $1,800 once again. Binance Coin is back below $310 after a similar daily decline.
Cardano, Solana, Litecoin, Polkadot, Shiba Inu, and Avalanche have produced drops of around 1-2%. More daily losses come from the likes of Chainlink, ATOM, and TONCOIN &#8211; all of which are down by around 3%.
Lido DAO&#8217;s native token has dropped the most from the larger-cap alts with a 6% nosedive. Yet, LDO still trades above $2.1.
Ripple is the only top 10 alt with a minor daily increase. XRP, perhaps fueled by the <a href="https://cryptopotato.com/ripple-vs-sec-judge-denies-the-sealing-of-hinmans-speech-once-again/" data-wpel-link="internal">positive developments</a> around the blockchain company&#8217;s legal case against the SEC, is up by around 3% and trades above $0.45.
The total crypto market cap erased yesterday&#8217;s gains and is down to $1.120 trillion.
<figure id="attachment_251341" aria-describedby="caption-attachment-251341" style="width: 1880px" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2023/05/Allcoins-4.png" data-wpel-link="internal"><img class="size-full wp-image-251341" src="https://cryptopotato.com/wp-content/uploads/2023/05/Allcoins-4.png" alt="Cryptocurrency Market Overview. Source: Quantify Crypto" width="1880" height="881" srcset="https://cryptopotato.com/wp-content/uploads/2023/05/Allcoins-4.png 1880w, https://cryptopotato.com/wp-content/uploads/2023/05/Allcoins-4-300x141.png 300w, https://cryptopotato.com/wp-content/uploads/2023/05/Allcoins-4-1024x480.png 1024w, https://cryptopotato.com/wp-content/uploads/2023/05/Allcoins-4-768x360.png 768w, https://cryptopotato.com/wp-content/uploads/2023/05/Allcoins-4-1536x720.png 1536w, https://cryptopotato.com/wp-content/uploads/2023/05/Allcoins-4-50x23.png 50w" sizes="(max-width: 1880px) 100vw, 1880px" /></a><figcaption id="caption-attachment-251341" class="wp-caption-text">Cryptocurrency Market Overview. Source: Quantify Crypto</figcaption></figure>
The post <a href="https://cryptopotato.com/xrp-defies-market-sentiment-with-3-increase-btc-drops-below-27k-market-watch/" rel="nofollow">XRP Defies Market Sentiment With 3% Increase, BTC Drops Below $27K (Market Watch)</a> appeared first on <a href="https://cryptopotato.com/" rel="nofollow">CryptoPotato</a>.

XRP Defies Market Sentiment With 3% Increase, BTC Drops Below $27K (Market Watch)

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