The cryptocurrency market continues to follow a volatile trend following the US Federal Reserve’s tough stance on interest rate cuts. Leading cryptos like Bitcoin (BTC), Ethereum (ETH), XRP, and Solana (SOL) have been under pressure amid market volatility. Here is a detailed report on today’s crypto prices.
Leading Cryptocurrency Bitcoin and Ethereum
Bitcoin price has declined by 2.5 percent in the last 24 hours. It is currently trading at $96,236. The lowest price level during the day was $95,137. The highest was $98,973. Bitcoin’s market dominance is strong today at 57.05 percent. The long-term outlook is positive. In addition, energy management company KULR recently purchased $21 million worth of BTC. This purchase is creating optimism among investors for the future.
Ethereum is also down 2%, currently trading at $3,380. The lowest during the day was $3,302.31. The highest was $3,446. Ethereum’s decline suggests that it is following general market trends. Despite this, Coinglass data has created some slight optimism about ETH’s market potential. In particular, ETH’s futures open interest increased by 1% to $23.47 billion. In addition, derivatives trading volume increased by 29% to $35.69 billion.
Solana and XRP
Solana price has declined by 3% in the last 24 hours and is currently trading at $190.31. The lowest and highest price levels for the day were $186.86 and $195.27 respectively. The future price movement of Solana remains uncertain due to the general volatility of the market. According to Coinglass data, Solana’s futures open interest decreased by 3%. However, derivatives trading volume increased by 24%.
The XRP price is down 3.5% and is currently trading at $2.18. The lowest and highest price levels during the day were $2.13 and $2.25, respectively. The Ripple community is trying to create an optimistic atmosphere with positive regulatory developments and strong technical analysis. However, the token is still feeling the pressure in the market. Despite this, one of CoinGape’s latest reports raised a price target of $27 for XRP, which led to different speculations on future movements.
Meme Crypto Prices and Cryptocurrency Market
Dogecoin is down 3% at $0.3156. Shiba Inu is also down 2% at $0.00002182. Other meme cryptos like PEPE, BONK and PENGU are down between 1% and 13% on the day.
Market experts believe that the current bull cycle is not over yet and a recovery may be imminent. BTC and ETH recorded gains of 0.06% and 0.15% respectively on the hourly timeframe. This has rekindled hopes for the future among market participants.
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