Market Outlook: Ripple (XRP) Surges 8%; BTC Plunged to Weekly Lows

Ripple’s XRP and Cosmos’ ATOM are among the few assets with substantial upticks within the last 24 hours. Ethereum continues to dip after the awaited Merge.

Bitcoin recorded further declines, moving beneath the south-after $20K. That saw the crypto hitting a week low around the $19K vicinity. Also, Ethereum remained down after the Ether 2.0- two days ago. The leading alt plunged beneath $1,450. Contrarily, ETH surged nearly 8% within a day.

BTC’s Weekly Low

The past few days haven’t been lucrative to the leading digital assets as 13 September triggered trend shifts. That came after Bitcoin rode bullishness near the $23K level, following a more than $3,000 jump. Nevertheless, the crypto reversed swiftly, and the United States CPI figures only magnified the pain. A few hours had BTC struggling to stay beyond $20K.

Though Bitcoin maintained the value area, a downside break seemed inevitable. That emerged on 14 September, and failure to regain the zone immediately saw Bitcoin stuck beneath the coveted $20K.

The previous day triggered more pain, within the dominant crypto plummeting towards $19.3K – the lowest price mark since 9 September. Though some recovery, Bitcoin remained beneath $20K, while its market capitalization stayed below $400 billion.

Ripple Stealing the Show

The altcoin market struggled since the United CPI data emerged, but market players remained ‘confident’ the Merge success would ensure some elevations within the marketplace. The vent eventually happened on Thursday, and Ethereum stayed cool at $1,600 at first.

The following hours saw the 2nd-largest cryptocurrency slumped beneath $1.5K. ETH continued diving, exploring $1,400 early today. Moreover, Ethereum is among the large-cap altcoins navigating the red sea during this publication.

Contrarily, ADA, BNB, TRX, DOGE, and DOT are briefly in the green. XRP outshined all top ten alternative tokens, surging approximately 8%. That saw the remittance token tapping $0.35. LINK and ATOM also noted impressive daily jumps, gaining 5% and 9%, respectively.

The slight uptick helped the cryptocurrency market capitalization to add about $20 billion within a day. However, the index remained far from the vital $1T level.

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