XRP Soars to Monthly Peaks as BTC Approaches $95K (Market Update)

Bitcoin experienced some fluctuations early on Monday, dipping below $93,000 before bouncing back to nearly $95,000.

XMR gained significant attention among larger cryptocurrency alternatives, while XRP saw a notable rise following the announcement of several approved futures ETFs in the US.

BTC Approaches $95K Again

The previous week kicked off with a substantial upward movement for Bitcoin, as it breached the $86,000 resistance level and reached $88,000. After a brief pullback, it rallied again on Tuesday, crossing $90,000 for the first time in more than six weeks.

The positive momentum continued over the following days, culminating on Friday when BTC approached $96,000, achieving a new high for the past two months. However, selling pressure emerged, preventing a further breakout.

Despite this setback, the price retracement was milder than expected, and Bitcoin stabilized around $94,000 throughout the weekend. Monday started weak, with a temporary dip to under $93,000, but this was short-lived, and BTC has since climbed close to $95,000 once more.

Currently, Bitcoin’s market capitalization has exceeded $1.880 trillion. Its dominance over alternative cryptocurrencies has slightly decreased to 61% according to market data.

XRP and XMR Surge

In light of the futures ETF approvals in the US, XRP’s price increased by more than 8% within 24 hours, exceeding $2.33 for the first time in a month. Meanwhile, XMR experienced a dramatic rise, soaring over 40% at one point and reaching a four-year high before corrections brought it back down under $270.

Most other major alternative cryptocurrencies are showing less volatility today. Coins such as ADA, SOL, SUI, HBAR, LINK, and XLM are slightly positive, whereas ETH, DOGE, TRX, and AVAX are experiencing modest losses.

The total market capitalization for all cryptocurrencies has increased by approximately $30 billion overnight, now reaching $3.085 trillion in market data.