XRP Explodes 65% and Flips BNB as Altcoins Steal the Show: Weekend WatchThe cryptocurrency market is on the move again, but this time the altcoins have taken the spotlight. Ripple’s XRP has reemerged from the $1.00 support and skyrocketed past $1.65 for the first time in many, many months, surpassing BNB on the way.
Meanwhile, bitcoin has rebounded from the dip to $76,200 and sits well above $78,000 now.
XRP Overtakes BNB as Alts Explode
What a time to be an altcoin investor, right? Let’s take XRP, for example. It dipped below $1.00 less than a week ago and fought for that level for days. However, the broader market’s rebound on Wednesday helped it recover significantly. It first flew to $1.40 but managed to break out even further and now trades above $1.65. This means it has soared by over 65% since Wednesday. Moreover, it’s now ahead of BNB in terms of market cap, even though the latter has soared by 10% on its own.
SOL, HYPE, DOGE, ADA, LINK, XLM, BCH, CC, and LTC have also posted double-digit gains today. ZEC has stolen the show with a 40% surge to $820. ETH has reclaimed the $2,500 level after another 7% pump.
Official Trump (TRUMP) has gone on a tear as well. It’s back in the top 100 alts by market cap after skyrocketing by over 60% in the past day.
The cumulative market cap of all crypto assets has added another $100 billion daily (and $500 billion since Wednesday) and is up to $2.760 trillion on CG.
Cryptocurrency Market Overview August 22. Source: QuantifyCryptoBTC Eyes $80K Again
The primary cryptocurrency led the charge on Wednesday when it exploded from under $65,000 to $70,000 at first. After a brief pause, it went on the offensive again in the following days, surging to $72,000 and $75,000 later on.
The culmination, at least for now, took place on Friday when it came inches away from tapping $80,000 for the first time in just over three months. However, it was stopped there after gaining $15,000 in 48 hours and slipped to just over $76,000.
The bulls have managed to defend that level, and BTC now trades over two grand higher. Its market cap is at $1.575 trillion, while its dominance over the altcoins has been reduced slightly from 57.9% to 57.1%.
BTCUSD August 22. Source: TradingView
The post XRP Explodes 65% and Flips BNB as Altcoins Steal the Show: Weekend Watch appeared first on CryptoPotato.
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XRP Explodes 65% and Flips BNB as Altcoins Steal the Show: Weekend Watch
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