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December 5, 2022
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Guide & Analysis

Bitcoin tests coveted $40K level and Ripple goes up 15%

In the last 24 hours, bitcoin tests the coveted level of $40K and Ripple goes up 15%.

And so, the entire market is swimming in a sea of ​​green today. Bitcoin topped $40,000 before, while many other cryptocurrencies such as XRP exploded.

Bitcoin tests the coveted $40K level and Ripple goes up 15%.

The last 24 hours have been splendid for Bitcoin as its price has managed to rise from around $37,600 to an intraday high of $40,393.

Bitcoin dominance – the index that measures its share relative to the entire market, has also risen more than 0.5% in the past 24 hours, indicating that altcoins have failed to capitalize better than BTC on the move.

In any case, the cryptocurrency has dropped to around $39,500 and it’s interesting to see if it will be able to make a decisive push on the all-important technical and psychological resistance of $40,000.

Like we report on several occasions, the primary cryptocurrency has been trading in a range between $30K and $40-42K since the big liquidation event that took place on May 19th. So far, despite the latest gain, he has been totally unable to escape that range, but for the first time since mid-June, the upper limit is being tested. In fact, it’s your second attempt in the last few days.

Everything green everywhere

The BTC was up about 6% on the day, and that’s more compared to many altcoins out there. While the entire market is in the green, not everyone enjoys such gains, with a few exceptions, of course.

Ethereum rose 3.4%, ADA – 2.69%, DOGE – 3.15%, Uniswap’s UNI – 2.8% and so on, as seen in the heatmap below.


There is an obvious exception to the above, and today it is Ripple’s XRP. It rose more than 13% on the day, having corrected some of the daily peak. The cryptocurrency has breached the important resistance level at $0.7 and is currently trading around $0.712.

Source: CryptoPotato

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