Ripple (XRP) falls 12% weekly as crypto market stagnates

The start of the week begins with little to no significant movement from most cryptocurrencies as bitcoin has stalled around $19,000.

The altcoins are a bit green, except for XRP. Apart from the daily price drop, the asset is down double digits on a weekly scale.

Bitcoin Calms at $19K

BTC experienced a lot of volatility at the end of last week, when the US CPI numbers came out. Although they were almost as expected, bitcoin went straight south, as it usually does when something is announced by the US lately, falling to a three-week low of $18,200.

However, this time the price fluctuations continued in the opposite direction. Within hours, the cryptocurrency shot up to nearly $20,000, marking a weekly high.

However, it failed to break this level and returned to $19,000 on Friday. This coincided with the Friday Wall Street carnage.

The weekend was largely uneventful, as in the past. As such, BTC still stands at around $19,000. Its market cap is close to $370 billion, and its dominance over the alts remains at 40%.

XRP drops double digits weekly

The altcoins went through similar volatility to BTC at the end of the week, but the weekend was a completely different story.

Ethereum has added less than 2% since yesterday and is inches above $1,300. Binance Coin, Solana, MATIC, TRON and Avalanche are also with smaller gains.

In contrast, Cardano, Dogecoin, Polkadot and Shiba Inu have insignificant losses. However, Ripple is down 3.5% since yesterday. Also, the recent high-flyer has lost about 13% in the last seven days.

QNT is the best performer of the mid-cap alts, after a 9% daily gain. Overall, however, the crypto market cap has remained stagnant at $925 billion.