Bitcoin Crashes To 7 Days Low, Ethereum And XRP Also Drop
July 25 2022 - 10:08AM
NEWSBTC
Despite having a boom week, Bitcoin, the most valuable
cryptocurrency, sank to its seven days low. Several other altcoins
that had also been rallying dropped, including the second-largest
coin, Ethereum, which fell over 5%, XRP fell by 4%, and ADA took
the lead with 6%. Over the last nine days, Bitcoin has seen
positive momentum. From a low of $19,230 to a high of $24,280, the
leading cryptocurrency has increased in value by more than 26%
since July 12. Related Reading | TA: Ethereum Stuck In Key
Range, Why $1,480 Is The Key Nonetheless, BTC’s most recent rise
failed to surpass the biggest barrier standing in the way of
Bitcoin reaching the $30K price level. Instead, the price of
bitcoin began a new downward trend after failing to stabilize above
the $23,000 level. BTC reversed its gains and fell below the
$22,000 mark. The price is currently at $21,917.87, down more than
3% from the day before but up 5.2% from the previous week. Its
current market capitalization is $418.68 billion, with a 24-hour
low of 2.62%. Furthermore, Ethereum lost ground along with BTC and
other cryptocurrencies as it could not maintain the $1600 level it
had reached earlier in the week. CoinMarketCap data show
that its price fell to $1,547.89 over the last day, a decrease of
2.5%. With Ethereum, ADA and XRP Also Experience A Decline During
the past 14 days, ETH has outperformed. From the low of $1,008 on
July 12 to the month’s high of $1,664 on July 23, it rose
gradually. In addition, since the Merge’s
announcement date, ETH has increased by over 15.0% during the
past seven days, and over the preceding 14 days, the currency has
seen a notable increase of 32.3%. Moreover, the eighth-largest
cryptocurrency, Ripple (XRP), dropped by 4.9% during the course of
the last day, reaching $0.346754, as per data from CoinMarketcap.
Additionally, with a drop of 4.70% over the last 24 hours, it also
lowers its market worth to around $16.735 billion. The
cryptocurrency markets maintained above their respective support
levels throughout the last weekend. So, from July 18, there was a
bullish surge in the price of XRP, giving the impression that it
would overcome any obstacles. But unfortunately, XRP saw a sharp
decline at the start of the new trading week. Since it could not
reach $0.4 levels, the current market movement had little effect on
the price of XRP. Related Reading | TA: Bitcoin Price At Clear
Risk of Sharp Drop, Indicators Turn Red On the other side,
Cardano’s price had dramatically increased to reach $0.55 and had
long since overtaken XRP. However, the bears rapidly pulled both
assets, demonstrating their strength over the bulls. However, ADA
couldn’t maintain its position at over $0.55. It is trading at
$0.493943 right now with a loss of 6.4%, and still, it is heading
downward. Featured image from Flickr, chart from Tradingview.com
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