Bitcoin Retraces Toward $60K, XRP Defies Negative Sentiment (Market Watch)

Bitcoin’s price was unable to maintain its positive performance over the past few days, and the bears were successful in pushing it back toward the pivotal $60K level.

All eyes are now on it, while there has been one cryptocurrency that is defying the otherwise negative sentiment in the past 24 hours.

Bitcoin Price Dips Toward $60K

Bitcoin’s price failed to continue the rally that started earlier in the week and is now pushing toward $60K. At the time of this writing, the leading cryptocurrency is trading at $60,700, down 3% on the day and 1.4% on the week.

As it can be seen on the chart above, the price crashed throughout a few hourly candles on July 3rd, finding some sort of support at the current levels.

It’s important to see if this will last or if the bears are determined to take BTC below the critical psychological and technical point of $60K.

Altcoins Suffer, but XRP Price Stands Tall

The majority of large-cap altcoins are trading well in the red. Examples include Ethereum, which is down almost 3%, BNB – down 2.2%, SOL – down 1%, DOGE – down 1.4%, PEPE – down 5.6%, and so forth.

There are a few, however, that managed to curb the downfall and remained steady. One of them is XRP. The primary reason for which XRP is trading in the green is associated with an update regarding the case between Ripple and the United States Securities and Exchange Commission.

The company recently filed a Notice of Supplemental Authority regarding a decision related to the cryptocurrency exchange Binance.

In essence, last week, judge Amy Jackson dismissed the regulator’s claims that secondary market sales of BNB constituted securities transactions.

In turn, Ripple Labs attempts to use this in their favor, arguing that it supports their case. It’s interesting to see how the case will turn out and whether or not Ripple will come out on top.