Bitcoin slides to $30,300 as crypto traders take post-XRP profits Ripple XRP cryptomarket
- The cryptocurrency market pulled back on Friday afternoon as traders looked to book profits following a breakout in prices in the wake of the U.S. court ruling that XRP is not a security. XRP is down 11.8% on the 24-hour chart after the token surged into overbought territory on Thursday, hitting its highest price since December 2021.
Data provided by TradingView shows that Bitcoin’s price showed weakness during the morning session before being hit with a rapid selloff in the afternoon that dropped the top crypto to a daily low of $30,015. Bulls have since bid its price back above $30,300, which has been a consistent level of support since June 21.“August Bitcoin futures prices [were] slightly weaker in early U.S. trading Friday, after hitting a contract high Thursday,” said Kitco senior technical analyst Jim Wyckoff.
“Regarding the Bitcoin dominance chart, it seems more and more likely that we'll be reversing trend and reject ourselves from the 200-Week MA and EMA here,” he said. “That means? Great period to accumulate your positions into altcoins.”
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