• Bitcoin (BTC) has stalled above $27K after experiencing a surge from under $20,000.
• The altcoins have also remained relatively flat on a daily scale.
• Ripple (XRP) has emerged as one of the best performers for the past seven days, rising 21% in total.
Bitcoin Stalls at $27K
Bitcoin (BTC) has recently taken a break after exploding from under $20,000 to over $28,000 during the US banking crisis. After charting yet another nine-month high above that level, BTC retraced to under $28,000 and has remained there for the past few days.
Altcoin Market Remains Flat
The trading volumes have gone down during the weekend, resulting in Bitcoin failing to produce any significant moves in either direction. The altcoins have also stalled on a daily scale with no clear trend emerging among them.
Ripple (XRP) Outperforms
Despite this overall stagnation in the cryptocurrency market, Ripple (XRP) has emerged as one of the best performers for the past seven days, with its price rising by 21% in total. Arbitrum’s recently launched token has also recovered 7% since yesterday’s dump.
It remains unclear if Bitcoin will be able to continue its bullish momentum or if it will be dragged back down by the rest of the market. For now, it seems that traders are waiting for new developments before taking any decisive actions regarding their portfolios.
Overall, it appears that while Ripple (XRP) is performing well at present and outperforming most other altcoins by some margin, most of the cryptocurrency market is currently stuck in limbo as traders await news which could bring more volatility into play once again.