XRP and PEPE Lead Markets, Bitcoin and Ethereum Flat But in the Green: This Week’s Crypto Recap

Well, there have been some exciting developments in the past week, at least in some areas of the market. Broader capitalization has barely grown by about $5 billion, which is currently less than $1.2 trillion. This came amid a relatively flat performance of the major cryptocurrencies, but some altcoins managed to surprise. Let’s dive in

It’s been back and forth with bitcoin this week. The cryptocurrency was trading at around $26,500 at this time last week, before rising to around $27,500 a few days later. It declined below $27K to test $27,500 again on Thursday. However, the bears were not having it, and they made another decisive drop, registering a modest 1.3% increase in the price of BTC where it is currently trading at around $26,800.

Ethereum is also trading for a weekly gain of 2%, followed by Cardano (ADA), Matic, DOT and TRX – all of which managed to book similar gains.

But this is where things get more exciting.

Ripple’s XRP is up nearly 8% over the past seven days, positioning it as the clear leader among the top 10 cryptocurrencies by total market cap. The reasons are probably two fold. The judge presiding over the case against the US Securities and Exchange Commission (SEC) has ruled against the agency’s proposal to seal certain records of former director Bill Hinman. Investors considered this as bullish for XRP as it could have a positive impact on the outcome of the case. Ripple also struck a deal to acquire Metaco, a Swiss-based crypto custodian, for $250 million.

And then there’s PEPE. Memecoin, which is taking center stage in the cryptocurrency industry, is up nearly 17% in the past week, with the Memecoin sector quite the gap. No one can tell why PEPE is on the rise, but as with anything related to memes, there could be a number of reasons. However, it will be interesting to see if it will be able to retain its position.

In any case, it will be very interesting to see how the market will shape up in the coming days and whether XRP will continue on its positive trajectory.

market data

Market Cap: $1,169B | 24h Vol: $34B | BTC Dominance: 44.4%

BTC: $26,829 (+1.3%) | ETH: $1,810 (+2%) | BNB: $309 (+1.1%)

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chart

This week we have chart analysis for Ethereum, Ripple, Cardano, OP and PEPE – click here for the full price analysis.