Bitcoin Struggles to Break $35K Resistance
The price of Bitcoin has been unable to surpass the $35K level, leading to a period of consolidation. Over the past 24 hours, Bitcoin has traded flat, but it has seen a 2% increase over the past week.
However, looking at the chart, it’s evident that Bitcoin experienced some volatility during this time without any clear direction from buyers or sellers. As a result, the price has remained unchanged.
Despite this, Bitcoin’s dominance in the market continues to decline and is now below 50%, allowing altcoins to capitalize on its indecisiveness.
Ripple (XRP) Takes the Lead in Altcoin Rally
Ripple has emerged as the top performer among altcoins, surging by more than 10% within the last 24 hours. It is now aiming to break through the $0.7 mark, which will be a significant milestone for the cryptocurrency.
Most other altcoins are also experiencing gains, with only a few exceptions. Solana (SOL) is currently taking a pause from its impressive rally, and its future performance remains uncertain.
Among the top 100 cryptocurrencies, NEO has shown the best performance with a nearly 14% increase, followed by KuCoin’s KCS with an 11% rise.
On the flip side, EGLD has seen an 8% decline in the past day but still maintains an overall increase of almost 50% over the past week.
Hot Take: Ripple Surges Ahead While Bitcoin Consolidates
Ripple has outperformed other major cryptocurrencies by recording significant gains in recent times. Despite Bitcoin’s struggle to break through resistance at $35K, altcoins are taking advantage of the market’s indecisiveness and experiencing positive momentum. Ripple’s surge of over 10% in the past 24 hours positions it as the top performer, with other altcoins also seeing gains. Bitcoin’s dominance continues to decline, signaling a potential shift in market sentiment. As the cryptocurrency landscape evolves, it will be interesting to see if Ripple can maintain its upward trajectory and break through the $0.7 mark.
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