XRP Eyes Key Resistance Despite Market Weakness as BTC Loses $80K: Market Watch

Few altcoins have managed to post gains over the past day, including XRP, ZEC, and HYPE.

Bitcoin continues to struggle price-wise just a day before the next FOMC meeting, as the asset slipped below $80,000 late last night and has remained there.

QNT continues its impressive run that began on Monday, while BTW and RAIN have plummeted by double digits from the larger-cap alts. BCH, XMR, HYPE, and ZEC have posted some gains. XRP is at $1.30 after major Ripple news.

XRP Aims at $1.30

Ethereum has slipped further toward $2,300 after another minor decline. SOL has dipped below $100, while TRX is under $0.33. Ripple announced it received the final green light for its national bank trust, which could help explain the native token’s defiance. XRP is up by almost 2% daily and now sits at the key $1.30 resistance.

ZEC is up by over 3% and stands close to $1,250. XMR has neared $600 after another 2% pump. HYPE has gained a similar percentage and trades at $78. QNT has risen by over 7% again and has seemingly reclaimed the $200 level.

On the other hand, BTW and RAIN have plummeted by over 12%. As a result, the former struggles at $1.40, while the latter is down to $0.072.

The total crypto market cap has declined by 0.4% in the past 24 hours again, and it’s down to $2.670 trillion on CMC.

BTC Loses $80K

It was less than a week ago when the primary cryptocurrency was rejected at $85,000, and the subsequent pullback has been quite violent. The asset dumped to $83,000 almost immediately, but the bears were just getting started. In the following days, the asset tumbled below $81,000 before another major leg down over the weekend pushed it to a 5-week low of $79,100.

The rebound attempts were halted at $81,000, and BTC dipped below $80,000 on a couple more occasions on Sunday. It couldn’t really reclaim that level on Monday either and has remained at around $79,500 for the past day or so with a few brief deviations.

Its market capitalization has tanked to $1.6 trillion on CMC, while its dominance over the alts has dipped below 60%. More volatility is expected tomorrow after the conclusion of the second-to-last FOMC meeting of the year.