Crypto Market Watch: Ripple Spikes 5%, Bitcoin Fights At $40K

Yet again, the cryptocurrency market is predominantly in the red as Bitcoin (BTC) struggles to reclaim the  $40K mark. On the other hand, major altcoins like Ripple (XRP) and Dogecoin (DOGE) marked some gains and are up respectively by 5% and 4%.

Bitcoin Hovering at $40K

Despite some green movements, the first half of April has not been gentle to the crypto markets. Bitcoin, for one, started the month at nearly $46,000. Since then, it passed through some significant turbulence and, at one point, dropped below $40K.

Yesterday (April 14) was a relatively positive day for the leading digital asset as it maintained $41K and even crossed $42K at some point. Nonetheless, earlier today, following the red trading session on Wall Street, the bears took control and pulled BTC below $40,000 once again.

BTC managed to recover some of the losses and is currently trading at slightly more than $40K, which is approximately 2.5% less than its USD valuation 24 hours ago. Its total market capitalization stands at around $763 billion.

Bitcoin’s Price, Source: Trading View

Ripple and Dogecoin are on the Green

As it typically happens, most alternative coins followed bitcoin and are also in the red. The second-largest cryptocurrency – Ether – is down by around 2.5%.

Luna (Terra’s native token) lost around 7% of its USD valuation despite the protocol’s multiple BTC purchases in the past few weeks. NEAR (another asset that was in the spotlight recently) headed south, too, and is down by 6%.

However, a handful of large caps are in the green corner as those that recorded the most significant gains are Ripple and Dogecoin. XRP is up by over 5% and is currently trading at nearly $0.8, its highest level for the past week.

The first-ever memecoin headed north, too, marking an increase of approximately 4%. DOGE is often praised by the world’s richest person – Elon Musk. Yesterday, Tesla’s CEO made a $43 billion offer to acquire one of the world’s largest social media platforms – Twitter, which might have been a bullish factor for DOGE’s surge.

The global cryptocurrency market cap is now $1.88 trillion, a 2% decrease over the last day.

Cryptocurrency Market Overview, Source: Quantify Crypto

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