Ripple’s XRP Rebounds Swiftly, Bitcoin (BTC) Reclaims $79K: Market Watch

VVV has rocketed the most over the past 24 hours, jumping by more than 50%. LIT, ATOM, and DOT follow suit.

In what is expected to be a highly volatile second part of the week, bitcoin’s price dipped to $77,600 yesterday after it was rejected at over $80,000 on Monday before it rebounded to $79,000 as of now.

Most larger-cap alts are also in the green today, with ETH trading above $2,500 and XRP defending the key support level at $1.40.

BTC Back to $79K

Bitcoin had a relatively sluggish previous week, during which it traded between $77,000 and $79,000. However, it briefly dipped below the lower boundary before the bulls stepped up on Thursday and initiated a massive leg up. The culmination took place on Friday morning when BTC topped $82,000 for the first time since mid-May.

Although it failed there, the subsequent retracement wasn’t too violent, and BTC maintained $81,000 for the next several hours. However, the stronger-than-expected US jobs report that came out on Friday afternoon resulted in a major leg down, driving bitcoin to under $79,000 by the end of the day.

The cryptocurrency rebounded over the weekend and remained close to $79,000. It tried to take down the $80,000 resistance on Monday morning, but it was quickly rejected. It first dipped to $78,800 before the bears drove it to the aforementioned $76,400. Nevertheless, it reacted well to this leg down and has jumped to over $79,000 as of press time.