Bitcoin Continues Fall from $22,000, but XRP Surprises with Rise to $0.4 (Market Watch)

Bitcoin Continues Fall from $22,000, but XRP Surprises with Rise to $0.4 (Market Watch)

The price of Bitcoin failed to recover in the last 24 hours. Quite the opposite – it slowly continued to bleed, reaching an intraday low around $21,580 (on Binance).

Most of the market is also seeing slight declines as trading volumes decline across the board. However, there are some exceptions.

Bitcoin slides further away from $22,000

The price of Bitcoin is currently trading at just over $21,600, after hitting an intraday low of $21,580 (on Binance). This is down around 1.3% on the day on relatively low volume.

Binance

Volatility spiked a few times yesterday but didn't produce any significant differences.

US Federal Reserve Chairman Jerome Powell testified before the Financial Services Committee and reiterated that inflation pressures are currently higher than the Fed previously expected. This suggests that another 50 basis point increase could be in play, but it appears that markets were prepared for this beforehand.

However, BTC rose to around $22,200 but has since lost momentum.

XRP is approaching $0.40

Ripple's XRP is the most obvious outlier of the past day, as the cryptocurrency has gained around 3% and is now approaching the crucial $0.40 level. It is interesting to note that this is taking place while the majority of other major coins are trading in the red.

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Ripple is actually the best performer among the top 100 cryptocurrencies by total market cap, followed by KLAY and Toncoin's TON.

At the other end of the spectrum, ImmutableX (IMX) and Synthetix Network (SNX) have both lost over 10%, making them the worst performers of the day.

Sentiment across the broader market has fallen somewhat significantly over the last 24 hours and is now in fear territory. Yesterday it was neutral.

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