While BTC and most alts remain calm now, Ripple’s XRP noted impressive upward movements, gaining nearly 8%.

Bitcoin’s downward retracement seems to pause beyond the crucial zone of $42,000, which was an ATH in 2021 January. Most alternative coins have also calmed or showed slight gains, including XRP, which saw a remarkable 8% increase.

BTC Bounced Off $42,000

Bitcoin saw massive volatility for several hours some days ago. That came after the United States marked a 40-year record as far as inflation rates are concerned. The world’s largest crypto declines by $2,000 towards $43,200 before gaining another $3,000 to hit new monthly peaks of $46,000.

Nevertheless, bears emerged and intercepted the uptrends, pushing BTC south again. This time, BTC failed to hold $43,000, dumping to levels beneath the mark. According to yesterday’s reports, the situation went worse as BTC dropped towards weekly lows under $42,000.

However, Bitcoin rebounded beyond this level, which also houses the 50-day Moving Average. The uptick had its market cap reclaiming the $800 billion thresholds.

XRP Leads the Pack

The altcoin market also registered roller-coaster actions over the past several days, but most tokens remain calm today. Ethereum climbed past $3,200 over the past day but plummeted beneath $3,000 during Saturday sessions and stays there at this publication.

Nevertheless, bearish sentiment emerged after XRP touched the resistance at $0.85 yesterday. That is because the remittance coin has consolidated since the remarkable upward movement. With that, experts expect XRP to retrace downward over the coming week.

The past 24 hours had the cross-border transaction crypto hovering within the $0.7634 – $0.8488 range, indicating massive volatility. Trading volume surges 8.3% to $3.3 billion, whereas XRP’s overall market capitalization hovers near $39.7 billion.

XRP/USD 4Hr Timeframe – More Downside?

The 4hr chart shows Ripple price on a consolidative outlook overnight, likely contemplating downward tests soon. Indeed, the remittance token saw a massive uptick this week. Ripple formed a colossal high near $0.90 on February 8 after multiple days of upswings.

The token retested the barrier twice but faced rejection, suggesting upcoming reversals. Indeed, XRP tested more downside on Friday with a move towards $0.76. However, Ripple regained some of the incurred losses late yesterday, after a consolidation period, peaking beneath $0.85.