Ripple Dominates in a General Dip as Bitcoin Falls Back to $26K

Today’s market session has kicked off rather slowly with bears pushing the global market cap down by 0.8% to take the total cap to $1.13T as of press time. Bitcoin (BTC), the crypto king, has also kicked off today in a bearish momentum recording a 0.7% drop in valuation within 24 hours of trading to drop back below the $27K level.

Bitcoin, currently trading at $26.8K, has a market cap of $520,148,927,457 as the trading volume also stood as of press time. Bitcoin’s volatility levels are however rather stable with the Bollinger bands now moving closer to each other, indicating decreased volatility on the asset’s network.

The relative strength indicator is also moving below its average line, indicating a bearish trend on BTC as bears now push for the oversold region. The MACD indicator is also moving closer to the average line as a shift below the level approaches, indicating a likely bearish trend on BTC.

BTC 1-day chart | Source: TradingView

Altcoin analysis

Ethereum (ETH), has also had a rather bearish session, recording losses of 1.4% within a day of trading to drop it back below the $1.9K level. Trading at $1,867, ETH had a market cap of $224,528,491,358 as the trading volume stood at $4,609,879,488 as of press time.

Other altcoins are also having turbulent sessions as Cardano (ADA), Dogecoin (DOGE), Polygon (MATIC), and Polkadot (DOT) all dropped by 1% in valuations within 24 hours as Solana (SOL) defied the bear odds to record a 1.2% gain within 24 hours and take its price to $21.58.

Ripple (XRP) is however boasting a great market session, gaining 2.4% within a day of trading to take its price to $0.5336 as of press time as its market cap stood at $27,738,059,189 and a trading volume of $27,738,059,189.

XRP 1-day chart | Source: CMC

On today’s trending list, ranking first is Arbitrum (ARB), which bulls are struggling to grip back from the bears as the drop in valuation now stands at 3.9% within 24 hours as of press time, for the asset to now trade at $1.1682. ARB has a current market cap of 1.49B as the trading volume also now stands at 163.52M.

ARB 1-day chart | Source: CMC

ABBC Coin (ABBC) is also third on today’s trending list, as saw significant drops in valuation amounting to 17% as the asset now trades at $0.1754 with a market cap of 249.34M and a trading volume of 18.10M.

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