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XRP and PEPE lead the markets, Bitcoin and Ethereum flat but in the green: This week's crypto roundup
Well, the past week had some exciting developments, at least in certain market segments. Total capitalization barely increased by around $5 billion and is currently just under $1.2 trillion. This was due to relatively flat performance among major cryptocurrencies, but some altcoins managed to surprise. Let's dive in. There has been some back and forth with Bitcoin this week. The cryptocurrency was trading at around $26,500 this time last week and managed to rise to around $27,500 a few days later. It fell back below $27,000 to hit $27,500 again on Thursday...
XRP and PEPE lead the markets, Bitcoin and Ethereum flat but in the green: This week's crypto roundup
Well, the past week had some exciting developments, at least in certain market segments. Total capitalization barely increased by around $5 billion and is currently just under $1.2 trillion. This was due to relatively flat performance among major cryptocurrencies, but some altcoins managed to surprise. Let's dive in.
There has been some back and forth with Bitcoin this week. The cryptocurrency was trading at around $26,500 this time last week and managed to rise to around $27,500 a few days later. It fell back below $27,000 to retest the $27,500 level on Thursday. However, the bears didn't fare well and made another decisive downtrend, taking the price of BTC to its current level of around $26,800, a slight increase of 1.3%.
Ethereum is also up 2% week-on-week, followed by Cardano (ADA), MATIC, DOT and TRX – all of which posted similar gains.
But that's where things get more exciting.
Ripple's XRP is up around 8% in the last seven days, positioning itself as the clear leader among the top 10 cryptocurrencies by total market capitalization. The reasons for this are probably twofold. The judge presiding over the case against the U.S. Securities and Exchange Commission (SEC) ruled against the agency's request to seal certain files of former director Bill Hinman. Investors found this to be bullish for XRP as it could have a positive impact on the outcome of the case. Ripple also closed a deal to acquire Metaco – a Switzerland-based crypto custodian – for $250 million.
And then there is PEPE. The memecoin, which has taken center stage in the cryptocurrency industry, is up around 17% in the past week, putting it at the top of the memecoin sector by a significant margin. There's no telling why PEPE is online, but as with anything related to memes, there could be many reasons. However, it will be very interesting to see if it will maintain its position.
In any case, it remains very interesting to see how the market will develop in the next few days and whether XRP will continue its positive trend.
Market data
Market capitalization: $1,169 billion | 24-hour volume: $34 billion | BTC Dominance: 44.4%
BTC: $26,829 (+1.3%) | ETH: $1,810 (+2%) | BNB: $309 (+1.1%)
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Diagrams
This week we have chart analysis of Ethereum, RippleCardano, OP and PEPE – click here for the full price analysis.
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