Crypto Price Today: Bitcoin at $84,695, XRP Jumps 6.17% Weekly After Ripple's Legal Victory

Major cryptos see mixed 24-hour performance: XRP celebrates as SEC case ends, weekly gains remain strong
Crypto Price Today: Bitcoin at $84,695, XRP Jumps 6.17% Weekly After Ripple's Legal Victory
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Despite a flurry of enthusiasm in the crypto sphere, the short-term market outlook appears mixed, with major cryptocurrencies experiencing a downturn in daily trading, following brief 1-3% hourly surges. However, the overall market capitalization remains robust, with Bitcoin holding steady above $84,000 and Ethereum maintaining its position above $1,980. One notable exception is XRP, which has seen a significant boost following Ripple CEO Brad Garlinghouse's announcement regarding the conclusion of the long-standing legal case.

Let’s observe the crypto market movements and market dynamics to help provide a practical assessment of how investors can navigate this ever-changing landscape.

Bitcoin and Ethereum Show Weekly Resilience Despite Daily Pullbacks

Bitcoin (BTC) is currently trading at $84,695.10, up 0.38% in the past hour but a 1.19% decline in the 24-hour cycle. Yet it remains steadfast and retains a tremendous weekly gain: 3.37%. The market capitalization of the premier currency can be found somewhere around $1.68 trillion, along with a 24-hour trading volume of $25.83 billion. Thereby, 19.83 million BTC is on the market. Domination by Bitcoin remains pivotal to understanding broader market trends.

Ethereum (ETH) registers the price of $1987.05 with a 0.42% hourly gain and a 1.80% daily loss. So far in a week, Ethereum earns 5.04%. Market cap of Ethereum reads $239.70 billion, with $12.38 billion in 24-hour trade volume. The circulating supply of Ethereum is 120.63 million.

XRP Jumps as Ripple CEO Announces SEC Case End

XRP is priced at $2.43, representing a 0.37% hourly gain and a 1.39% decrease in the 24-hour period. The virtual currency advanced 6.17% in the past week. XRP has a market capitalization of $141.49 billion, with a trading volume of $4.60 billion over 24 hours. The circulating supply is 58.15 billion XRP.

The very commendable performance of XRP comes just after a landmark event in the legal department. At least, according to Ripple's CEO, Brad Garlinghouse, that was about breaking the news update. According to Garlinghouse, "This case has ended. It's over." This also denotes a great victory for Ripple after years of legal tussles with the SEC. The price of XRP has surged instantly upon this positive announcement.

Before the plaintiff amendment, a ruling by the federal New York court was that Ripple's "programmatic sales" of XRP on secondary markets did not constitute securities transactions, while sales to institutional investors did. Ripple was asked to pay a fine of $125 million, much less than the penalty of $2 billion requested by the SEC.

This was a major event that removed the cloud of major uncertainty that hung over XRP for years and can, in due course, be more applicable in the classification of other cryptos as securities or otherwise. The refusal by the SEC to proceed with this appeal has contributed to the waning spirit of concerted regulation ever since Commissioner Mark Uyeda took over, even avoiding regulatory actions against major crypto exchanges like Coinbase and Kraken.

BNB Outperforms with Strong Daily and Weekly Gains

Binance Coin (BNB) is trading at $629.81, showing a rather strong gain in all timeframes: 0.11% intraday, 0.66% daily, and 7.79% weekly. Being among the few major cryptocurrencies to display positive daily progression, its market cap is estimated at $89.73 billion, with a volume of $2.26 billion within 24 hours. About 142.47 million BNB are to be circulating.

Solana and Other Altcoins Face Short-Term Pressure

Solana (SOL) is priced at $128.52, with a 0.54% hourly increase together with a 24-hour reduction of 3.61%. In any case, SOL maintains a 2.98% uptick over the past week. Market capitalization of Solana is $65.57 billion, trading volume is up to $2.33 billion for the day, with 510.17 million SOLs circulating.

Cardano (ADA) is trading at $0.7213, rising 0.20% over the last hour. Paradoxically, this token has received a 1.01% 24-hour decrease; however, it is up on a weekly comparison at only 1.92% gain. Market capitalization is at $25.42 billion, and 24-hour trading volume was $831.39 million. The circulating supply is 35.23 billion ADA.

Dogecoin (DOGE) is worth $0.1704. Its increase was lost in a day. The gain over the past week has hit 0.95%, extending the tiny push of a potential recovery. A total market cap for the meme coin is $25.31 billion, with the 24-hour trade volume amounting to $879.32 million. With 148.51 billion DOGE being offered for trading, all accounts have been adjusted to some extent.

TRON (TRX) goes for $0.2315, marking 0.07% off an hour's chart with a 0.59% day-down, all the while getting stronger over a 2.62% weekly jump. Starting from now, the market cap is at $22.00 billion and the trading volume at $685.13 million over a 24-hour period. The circulating supply is 95.01 billion TRX.

Stablecoins Continue to Provide Market Stability

Tether (USDT) trades at 0.9996; however, with minimum variations, such has become paradoxical to the nature of stablecoins. Market cap of $143.48 billion and an increasing 24-hour trading volume of $58.27 billion account for wielding paltry $143.52 billion USD billies of Tether. This vibrant market actor of predominantly US dollars has recently shown muscle.

USD coin (USDC) stands at $1.00 as the market number. Effectively, this stands congruent with the U.S. dollar, with very little in the way of price movement. The market cap of USD Coin is $59.35 billion, with a trading volume of $10.43 billion in a 24-hour trading session with 59.34 billion circulating.

Market Outlook and Analysis

Currently, the signs are that the cryptocurrency market is at a point where consolidation can be seen post-gains in the past week. Most assets are showing positive weekly performances despite what would be considered short term pullbacks, which seems somewhat more constructive than scenarios unfolding into a trend reversal. The more trading turns rampant, the more security is relevant for us all.

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