Bitcoin Dips Below $30K to Lowest Since Late June as Altcoins Pare Gains From XRP Lawsuit

By July 18, 2023 In Bitcoin, Ripple

Cryptocurrency markets continued to pull back from last Thursday’s big gains, with bitcoin (BTC) slipping about 2% over the past 24 hours alongside more sizable declines in the altcoin sector.

Bitcoin fell to as low as $29,679 Monday afternoon and had bounced modestly at press time to $29,900. Ether (ETH), the second largest cryptocurrency by market cap, dropped to $1,880, also about a 2% decline over the past 24 hours.

Smaller cryptocurrencies – or so-called altcoins – have suffered even steeper declines. Ripple’s XRP, which led Thursday’s breakneck surge after a partially favorable court ruling in a lawsuit involving the U.S. Securities and Exchange Commission (SEC), tumbled 5.4% in the last 24 hours. SOL and XLM, the native token’s of the Solana and Stellar networks, respectively, shed more than 5% over the same period.


Ripple is now lower about 15% from Thursday’s high, though still well above its pre-court ruling level. Solana is off about 10% from its Thursday high and Stellar down about 25%, though both also remain higher over the past week.

Among the day’s worst performers is LDO, the governance token of liquid staking protocol Lido Finance, which has nosedived almost 12%.

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