XRP Explodes Towards $0.60, Bitcoin Erases CFTC-Binance Trial Losses (Market Watch)

XRP Explodes Towards $0.60, Bitcoin Erases CFTC-Binance Trial Losses (Market Watch)

The cryptocurrency market is recovering the losses caused by the CFTC lawsuit against Binance and CZ. Ripple’s XRP is now rising for a few days in a row, while the price of Bitcoin managed to reclaim $28,000 and even rise above it.

The entire market is painted green as the majority of cryptocurrencies have recorded significant gains in the last 24 hours.

Bitcoin price rises above $28,000

The green is back in the cryptocurrency market after a few days of questionable price movements caused by the CFTC lawsuit against Binance and CZ.

At the time of writing, BTC is trading above $28,500 after registering an increase of around 6% in the last 24 hours. With this move, the cryptocurrency managed to recoup almost all of the losses caused by the CFTC lawsuit.

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BTC hit a high of $28,650 before declining slightly to its current trading value (on Binance).

Altcoins painted green, XRP leads rally

XRP is the best performer among major cryptocurrencies today. It is up almost 20% over the past day and appears to be preparing to target the coveted $0.60 level. At the time of writing, XRP is trading at around $0.57.

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As can be seen in the heatmap above, all major coins are trading well in the green today. Among the top 100, MASK leads the market with a daily increase of 24.6%. The cryptocurrency thus managed to recoup most of the losses it had recorded the previous day. Conflux's CFX is in second place with an increase of 21.2%, followed by Kaspa's KAS with 20%.

Interestingly, with the exception of Huobi Token (HT), which is down a slight 0.2%, all other cryptocurrencies from the top 100 are in the green today - a very rare phenomenon.

Sentiment across the broader market remains in a phase of “greed,” albeit somewhat more modest compared to yesterday.

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