XRP Reclaims Key Resistance as BTC Cools at $86K After Massive Run: Market Watch

The total crypto market cap hit a multi-month peak at over $2.9 trillion after the latest rally. Bitcoin went on a wild run on Monday, surging by over $7,000 on the heels of massive ETF inflows and topping $87,000 for the first time since late January before it finally calmed at around $86,000. Most altcoins registered similar or even more impressive gains, including Ripple’s XRP, which flew past $1.50, and DOGE, which has neared $0.10. BTC Hit 8-Month High There was very little evidence last week of what would transpire in the crypto markets, starting from Friday and culminating on Monday evening, at least for now. The CLARITY Act was voted down in the US Senate, marking the first major blow against the industry. A day later, the Federal Reserve increased rates for the first time since July 2023. Both of these developments led to short-term declines for BTC, which slumped to $75,000 on a couple of occasions. However, it reacted well on Thursday and especially on Friday. The BOJ’s decision to mimic the Fed didn’t harm bitcoin. Just the opposite; the asset rebounded to over $78,000 before it initiated another leg up that afternoon to over $80,000. It climbed to almost $82,000 on Wed...