The cryptocurrency market is recovering the losses induced by the CFTC lawsuit against Binance and CZ. Ripple’s XRP is surging for a few days in a row now, while Bitcoin’s price managed to reclaim $28K and even soar beyond it.
The entire market is painted in green as the majority of cryptocurrencies are charting considerable gains throughout the past 24 hours.
Bitcoin’s Price Soars Above $28K
The green is back in the cryptocurrency market following a couple of days of questionable price action caused by the CFTC lawsuit against Binance and CZ.
At the time of this writing, BTC is trading above $28,500, having charted an increase of around 6% in the past 24 hours. With this move, the cryptocurrency managed to erase almost all of the losses caused by the CFTC lawsuit.
BTC reached a high at $28,650 before retracing slightly to where it’s currently trading (on Binance).
Altcoins Painted Green, XRP Leads Rally
XRP is today’s best performer among the major cryptocurrencies. It’s up by almost 20% in the past day, and it’s seemingly getting ready to target the coveted $0.60 level. At the time of this writing, XRP trades at around $0.57.
As seen in the heatmap above, all of the major coins are trading well in the green today. From the top 100, MASK is leading the market, up 24.6% on the day. With this, the cryptocurrency managed to recover most of the losses that it posted the day before. Conflux’s CFX is second in line with 21.2% gains, followed by Kaspa’s KAS with 20%.
Interestingly enough, 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.
The sentiment across the broader market remains in a stage of “greed,” albeit slightly more modest compared to yesterday.
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Cryptocurrency charts by TradingView.
Source: https://cryptopotato.com/xrp-explodes-toward-0-60-bitcoin-deletes-cftc-binance-lawsuit-losses-market-watch/