XRP Jumps 6% Daily, BTC Targets $98,000 After Falling to $94,000 (Market Watch)

The price of Bitcoin went through another roller coaster ride yesterday, but has managed to recover most of the losses and now sits near $98,000.

Most altcoins are still in the red, apart from the larger-cap XRP, SOL, and TON, which have posted impressive gains.

BTC targets $98K

BTC’s inability to decisively conquer the $100,000 level over the weekend resulted in some consecutive declines that hurt the asset’s price movements. It all started on Monday when BTC hit a daily high of $100,400, but a few hours later found itself falling below $94,400.

After dumping billions of dollars in liquidations, the cryptocurrency began to recover on Tuesday and soared to $98,400. However, the same scenario was repeated once again as BTC fell sharply to the same support level of $94,400.

Since then, the asset has been recovering, rising to $94,400 once again a few hours ago. However, it has not been able to continue its rise and now the community is wondering if another rejection will follow.

For now, however, bitcoin’s price means its market capitalization has approached $1.94 trillion in CG, while its dominance over altcoins remains above 53%.

XPR in recovery mode

Ripple’s cross-border token was among the worst performers during the correction in recent days. However, it has recovered from below $2 and is now trading above $2.3 amid positive developments surrounding the company’s upcoming stablecoin.

Solana, Toncoin and Shiba Inu are the other notable winners from the larger cap alternatives. On the contrary, DOGE, ETH, BNB, AVAX and TRX are in the red. PEPE has plummeted further, falling 7% from its last all-time high.

Bitget’s native token is the top performer currently, having risen over 22% in the last 24 hours.

Overall, the total crypto market capitalization has recovered more than $150 billion from its low yesterday and now stands at $3.65 trillion in CG.