XRP Reclaims Support as BTC Eyes $63K After Weekend Rebound
Crypto markets continue to rebound after a severe Friday selloff. Bitcoin (BTC) recovered from under $60,000 and is now approaching $63,000. After trading near ~$73,000 at the start of the downturn, BTC slid below $70,000, then broke down further to the mid-$60,000s before the final leg pushed it under $60,000 for the first time since late 2024.
The rebound picked up momentum as BTC climbed back above $60,000, tapped around $61,000, and continues toward $63,000. BTC market cap has risen above $1.25T, with dominance above 56%, suggesting capital is still rotating across the majors but with strength in BTC.
Altcoins are also following through. Ethereum (ETH) rebounded toward $1,650 after hitting ~$1,500. XRP (XRP) surged above key levels at $1.10 and $1.15, after a Friday dip near $1.05—signalling improving risk appetite in the XRP trade. BNB is near $600, while several large and mid-cap names gained on the day, including SOL, TRX, DOGE, RAIN, XLMR, and ZEC (around $400 after an ~8% post-FUD bounce).
Broader market data shows total crypto market cap recovering roughly $150B from Friday’s low to about $2.24T. Lower-cap plays also posted double-digit gains, including LAB, H, BEAT, SIREN, and M.
For traders, the key takeaway is that both BTC and XRP have moved back toward higher support zones, but this comes after a historically sharp drawdown—so follow-through matters.
Bullish
This is classified as bullish because both BTC and XRP are rebounding back toward (and above) widely watched support areas after a sharp drawdown. BTC’s recovery from under $60K to near $63K, alongside XRP reclaiming $1.10 and $1.15, indicates that buyers are defending key levels rather than continuing to liquidate.
Historically, after the kind of capitulation-like moves seen here (BTC breaking below a major psychological level), market rebounds often unfold in two stages: a fast technical bounce, then a confirmation phase where traders retest prior resistance/turning points. If BTC holds the $60K–$63K region and XRP sustains above the $1.10–$1.15 zone, it can attract momentum and prompt rotation from majors into lagging alts.
However, because the rally is happening right after a multi-day selloff, volatility remains elevated. Long-term impact is likely mildly positive if the broader market cap continues to rebuild (here, +~$150B from the Friday low), but traders should still monitor for failed follow-through, which could revert the move quickly.