Bitcoin’s price continues to consolidate and has failed to produce a meaningful and sustained movement in any direction. Meanwhile, Ripple’s XRP is the only altcoin in the top 10 that’s charting a serious increase.
Bitcoin Consolidation Continues
Over the past 24 hours, the price of Bitcoin has not produced any significant and sustained movement in either direction and is trading roughly where it was yesterday during this time – at around $39,000.
This doesn’t mean that we didn’t see volatility – on the contrary. Yesterday, reports came out that the Russian President, Vladimir Putin, admitted to progress being made in the talks with Ukraine. This propped up the market, and Bitcoin’s price surged by about 3.6% in less than an hour and reached a high of $40.2K. Unfortunately, the market was spread rather thin, and the gains were erased with the following hourly candle, displaying just how much tension there currently is.
In total, BTC is up around 0.3% in the past 24 hours as traders look for the next direction.
Altcoins Trading Flat, XRP Surprises
The altcoin market was also relatively boring in the past 24 hours, with a few exceptions. Most of the leading cryptocurrencies are, much like BTC, trading flat, as seen in the heatmap below.
One of the altcoins moving against the herd today is Ripple. XRP has risen over 7% in the past 24 hours and is currently testing resistance at $0.8. It is also the best performer in the top 10. At the other end of this spectrum, we have LUNA which appears to be cooling after a major rally and is now down 8% on the day.
All in all, the best-performing cryptocurrency from the top 100 is XIDO, with a 30% surge, whereas the worst-performing one is ANC, down 9%.
