The crypto market has once again started the week in the red. The drab action comes after a very fruitful weekend that saw Bitcoin rise above $9,000. The entire market also corrected upwards on Sunday. However, Bitcoin established a new January high at $9,184 before reversing back into the $8,000 range. The support at $8,500 came in handy, allowing the buyers to push for gains above $8,600.
Litecoin, the 7th largest digital coin with the current market value of $3.6 billion, lost over 6.5% in the recent 24 hours amid global correction on the cryptocurrency market. At the time of writing, LTC/USD is changing hands at $57.20, off the recent high registered at $63.17 on January 17.
Ripple’s XRP, now the third-largest digital asset with the current market value of $10.1 billion has lost nearly 6% in recent 24 hours. The coin touched the highest level of 2020 at $0.2540 on January 18 and retreated to $0.2326 by the time of writing. The coin has been moving in sync with the global cryptocurrency market, driven by a strong bearish wave after a move to new highs.