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Market News Crypto Market Daily Highlights – XRP and DOGE Buck the Top Ten Trend

Crypto Market Daily Highlights – XRP and DOGE Buck the Top Ten Trend

A mixed day on Monday saw XRP go into reverse and the broader market disconnect from the NASDAQ 100 for the third straight session.

Lorna Divakar
2022-09-27
417

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The top ten cryptocurrency index had a choppy Monday session. SOL was in the lead, with XRP and DOGE defying the top 10 trend. For the first time in three sessions, BTC closed the day at $19,000 rather than falling short of $20,000 for the eighth session in a row.


There were no US economic figures to pique investor interest, so it was a calm Monday session. There were no crypto news events to test the crypto market, but investor anxiety over the Fed and the prospects for the economy continued to drag down the NASDAQ 100.


Investors in cryptocurrencies seem to have forgotten about the Fed and the bleak economic outlook after Thursday's post-Fed decoupling. The Fed and the dollar have hurt major fiat currency pairings, crosses, and exotic currencies, which has increased the appeal of cryptocurrencies as a substitute for fiat currencies as a store of value.


The NASDAQ 100 dropped by 0.60% on Monday, but the NASDAQ 100 Mini gained 20.25 points this morning.

Market for Cryptocurrencies Claws Back to $900 Billion However, NASDAQ Fall

The market capitalization of cryptocurrencies fell on Monday to an early-morning low of $877.0 billion before rebounding to a late-day high of $910.0 billion. The crypto market value grew by $17.2 billion to close the day at $903.0 billion as a result of a bullish afternoon session.


The crypto market is lost $106 billion this month despite the positive Monday session.

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