Bitcoin Tumbles Below $31K
By Laxmikant khanvilkar
Cryptocurrency prices cooled off Saturday morning after Friday’s major rally on the apparent court victory for Ripple Labs and its XRP token.
Bitcoin, the largest cryptocurrency by market capitalization, fell below $30,500, down more than 4% from s high of about $31,800 at one point on Friday.
Ether also sagged from its rousing Friday to change hands at $1900, a 4% decline. The second largest crypto in market value had previously soared past $2000 to hit a three-month high.
XRP was trading at about $0.69, or down 25% from a peak of $0.93 hit yesterday. The token briefly toppled Binance’s BNB as the fourth largest cryptocurrency by market cap but slipped back to fifth in the ranking after today’s price drop.
Other major altcoins were mostly lower, including ADA and MATIC – the tokens of smart contracts platforms Cardano and Polygon, respectively – each off more than 5%, though still higher over the last two days.
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