Bitcoin
Bitcoin Retreats Towards $60K, XRP Defies Negative Sentiment (Market Watch)
Bitcoin price failed to maintain its positive performance over the past few days, and bears managed to push it back towards the crucial $60K level.
Now, all eyes are on it as there is one cryptocurrency that is defying the negative sentiment of the past 24 hours.
Bitcoin Price Drops to $60K
The price of Bitcoin failed to continue the rise that started earlier in the week and is now approaching $60,000. At the time of writing, the leading cryptocurrency is trading at $60,700, down 3% on the day and 1.4% on the week.
As can be seen in the chart above, the price dropped over a few hourly candles on July 3rd, finding some sort of support at current levels.
It remains to be seen whether this will last or whether the bears are determined to take BTC below the critical psychological and technical point of $60K.
Altcoins Suffer, But XRP Price Remains High
Most large-cap altcoins are trading well in the red. Examples include Ethereum, which is down almost 3%, BNB – down 2.2%, SOL – down 1%, DOGE – down 1.4%, PEPE – down 5.6%, and so on.
There are some, however, that have managed to stem the decline and remain stable. One of them is XRP. The main reason why XRP is trading in the green is associated with a to update about the case between Ripple and the United States Securities and Exchange Commission.
The company recently filed a Notice of Supplemental Authority regarding a ruling related to cryptocurrency exchange Binance.
In essence, last week, Judge Amy Jackson rejected the regulator’s claims that BNB sales on the secondary market constituted securities transactions.
In turn, Ripple Labs is trying to use this to its advantage, arguing that it supports its case. It will be interesting to see how the case will end and whether Ripple will emerge victorious or not.
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