Bitcoin Rejected Again At $31K, Ripple (XRP) Drops 8% Daily

Aside from XRP, the other big daily losers are MATIC, LTC, and BCH.

Yesterday, bitcoin hit a new 13-month high of almost $32,000. Since then, it has been turned down again, and a few hours ago it fell below $30,000.

After the recent gains, most altcoins are also down today, except for DOGE, SHIB, OP, and a few others.

BTC Stopped

Most of the week was quiet for the most popular coin, which spent most of its time trading sideways between $30,000 and $31,000. All of that changed, though, when Judge Torres, who was in charge of the case between Ripple and the SEC, decided in favor of Ripple and its native cryptocurrency on Thursday evening.

Along with the rest of the market, BTC went on the attack and jumped to just under $31,900 (on Bitstamp). This was the asset’s highest price in over a year.

But bitcoin couldn’t keep up that run, and it quickly lost a grand. The situation got worse last night when BTC fell hard and went below $30,000 for the first time in a week.

Bitcoin is still 3% down for the day, even though it bounced off that level and is now a few hundred dollars above it. Its market value has dropped from more than $610 billion yesterday to $590 billion today. Its 48.4% lead over the alternatives is almost the same as it was yesterday.

XRP Loses Some Momentum

As expected, Ripple’s native token gained the most after the judge made his decision. At one point, it went up by almost 100% and hit $0.95 for the first time since December 2021. This caused millions of shorts to be paid off.

But it couldn’t keep going up, and yesterday it dropped back down to $0.8. Right now, it’s back down to $0.72 after another 8% daily correction. Litecoin, Polygon, Bitcoin Cash, Polygon, and other coins have all lost money in a similar way.

From the larger-cap alts, ETH, BNB, ADA, SOL, DOT, and TRX are also in the red. DOGE and SHIB, which are the two biggest memecoins, are two of the few that are going up every day.

In the past 24 hours, OP’s price has gone up by 7.5% and regained $1.50.

On CMC, the overall value of all cryptocurrencies has dropped by more than $30 billion since yesterday, to $1.22 trillion.