XRP News Today: Bitcoin Stabilizes at $118,000 as Altcoins Surge 9% Weekly

Bitcoin's remarkable surge over the past week has finally reached a plateau, with the asset stabilizing at $118,000. This follows a period of significant volatility, where Bitcoin's price fluctuated between $105,000 and $110,000 for several weeks before breaking out on Wednesday evening. The cryptocurrency reached a new all-time high of $112,000, followed by an even more impressive rally that saw it peak at nearly $119,000 on Friday morning. Despite a slight retracement, Bitcoin has gained over 9% on a weekly scale, with its market capitalization growing to $2.345 trillion and its dominance over altcoins declining slightly to 62.5%.

Several altcoins have also experienced significant gains over the past few days. Ethereum, for instance, surged from $2,500 to over $3,000, marking a five-month peak before correcting slightly. XRP initially lagged behind but took the spotlight yesterday by surging to almost $3. Although it has since dropped below $2.8, it remains 7% up on the day and has overtaken USDT in terms of market cap. CRO has also charted a similar price surge, taking it to well over $0.1. However, the day belongs to XLM, which has exploded by more than 22% and now trades above $0.37. In contrast, Pi Network’s native token has plunged by over 6% and struggles to remain above $0.47.

The cumulative market cap of all crypto assets has gained over $300 billion since Wednesday and stands at $3.750 trillion. This surge in altcoins, particularly XLM and XRP, indicates a shift in market dynamics, with investors potentially seeking higher returns in alternative cryptocurrencies. The stabilization of Bitcoin's price at $118,000 suggests that the market may be consolidating after a period of rapid growth, providing an opportunity for altcoins to gain traction. The performance of XLM, in particular, highlights the potential for significant gains in the altcoin market, as it has outperformed many other cryptocurrencies over the past few days.

The recent price movements in the cryptocurrency market reflect the ongoing volatility and potential for significant gains in both Bitcoin and altcoins. While Bitcoin's price has stabilized, the surge in altcoins such as XLM and XRP indicates that investors are seeking opportunities in alternative cryptocurrencies. The cumulative market cap of all crypto assets has grown significantly, reflecting the overall bullish sentiment in the market. As the market continues to evolve, investors will be closely watching the performance of both Bitcoin and altcoins, with the potential for further gains and volatility in the coming days.