Crypto Market Shakes on Friday, JUP Skyrockets, SHIB Struggles, XRP Price Crashes


Crypto Market Shakes on Friday, JUP Skyrockets, SHIB Struggles, XRP Price Crashes

  coinedition.com 19 July 2024 10:36, UTC

The crypto market opened Friday on a sluggish note, unable to reach new highs and struggling to maintain current levels. Investors may see a slight correction after the recent market recovery if buying demand does not increase.

Bitcoin (BTC), the leading digital asset, fell nearly 1%, showing stagnant movement and failing to hold prices above $65,000. The cryptocurrency is currently trading at $64,135, with a 14% decline in trading volume. However, the Bitcoin Fear and Greed Index indicates that the market is in a state of “Greed,” suggesting demand could rise soon.

Bitcoin Fear and Greed Index is 60 — Greed
Current price: $63,971 pic.twitter.com/KfEnH6zmqA

— Bitcoin Fear and Greed Index (@BitcoinFear) July 19, 2024

One of the worst performers in the crypto space in the last 24 hours was XRP which crashed 6% and is currently trading at $0.5542. Notably, the trading volume of the altcoin dropped 32.27% and it seems that investors are capitalizing on the gains made in the past two weeks.

As the TradingView chart below illustrates, XRP rose from a low of $0.4032 to a high of $0.6378, marking a 22% increase in the past seven days. However, it appears investors are now selling their holdings after two weeks of significant price gains.

Jupiter (JUP) performed well, rising by almost 6% in the past 24 hours. A major reason for this surge could be the rising DEX volume on the Solana blockchain, as previously reported by Coinedition. The altcoin is currently trading at $0.9758, with a 45% surge in trading volume and a 34.40% increase over the past week.

Shiba Inu (SHIB), the second-largest meme coin, failed to make significant gains, with prices falling almost 7% in the past 24 hours. The meme coin is trading at $0.00001747, 80.29% lower than its all-time high of $0.00008845 reached in October 2021.

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

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