Ripple soars 6%, Bitcoin missed $20K level

Bitcoin price took a somewhat surprising drop yesterday when the US announced better-than-expected September labor reports.

Most of the altcoins are also in the red now, with the obvious exception of Ripple. XRP has stolen the show once again, surging nearly 7%.

Bitcoin missed the $20K mark

Since the Oct. 3 crash below $19,000, the outlook around the top cryptocurrency has been quite positive. The asset had bounced off that level and even broke above $20,000.

This resulted in a price increase to a three-week high of $20,500. BTC stalled there but stayed above $20,000 for a few days in a row. However, the situation changed yesterday after the US jobs report, which slightly exceeded expectations.

While some are still debating why that might be, Bitcoin fell in a matter of minutes by nearly $1,000. However, he managed to defend $19,000 and is now in a familiar range between that level and $20,000.

Consequently, its market capitalization has shrunk to below $375 billion, and its dominance over altcoins has taken a bit of a hit by declining to 39.6%.

BTCUSD.  Source: TradingView
BTCUSD. Source: TradingView

XRP stands out

Most of the altcoins have mimicked the performance of BTC and are slightly in the red. Ethereum is down around 2% daily but is still above $1300.

Binance Coin fell sharply yesterday following the hack against BNB Chain. While the network was restored, the native cryptocurrency was down a few percentages to $281.

Cardano, Solana, Dogecoin, Polkadot, Shiba Inu, MATIC, Tron and Uniswap are also in the red among the larger cap alternatives.

The only exception to the top 10 is Ripple. XRP is up 6% in a day and is trading just over $0.5.

The cumulative market capitalization of all crypto assets has seen several billion disappear in a day and has dropped to just under $950 billion on CoinMarketCap.

Overview of the cryptocurrency market.  Source: quantify crypto
Overview of the cryptocurrency market. Source: quantify crypto
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Cryptocurrency charts from TradingView.

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