Crypto Market Daily Highlights – XRP Resumes Upswing to Lead the Top Ten

Key Insights:

• It is a bullish end to the week for the crypto top ten on Sunday. Ripple (XRP) leads the way with 100 minutes of the session remaining.

• There are no major crypto news stories, leaving investors to take a breather from the four-session sell-off fueled by US economic indicators and hawkish Fed bets.

• The crypto market cap is up by $4.3 billion to end the week at $905.6 billion.

It is a bullish Sunday session for the crypto top ten, with 100 minutes (UTC) of the Sunday session remaining. XRP leads the way, marking a sixth session gain from seven. Despite the bullish session, BTC has fallen short of $20,000 for the second time in six sessions.

There are no crypto news stories to provide direction, leaving investors to take a breather after a four-session pullback. However, Fed fear will continue to influence the week ahead, with US inflation a market focal point. Another spike in US inflation could cement 75-basis point Fed rate hikes in November and December.

With a 75-basis point Fed rate hike for November baked in, the markets are looking toward the December policy decision.

The FedWatch tool gives a 65.0% probability of the Federal Funds Rate ending the year at 4.5% and a 21.8% chance of ending the year at 4.75%. One week ago, the probability of the Federal Funds Rate rising to 4.75% in December was 0%.

Following the NASDAQ 100s 3.80% tumble on Friday, the NASDAQ 100 Mini will likely influence the final hour (UTC).

Crypto Market on Target to End Four-Day Losing Streak

On Sunday, the crypto market fell to an early morning low of $896.3 billion before rising to an evening high of $911.4 billion. However, a late pullback leaves the crypto market up $4.3 billion to $905.6 billion, with 100 minutes of the session remaining.

Despite four consecutive days in the red, the crypto market remains on target to end the week in positive territory. With 100 minutes of the session remaining, the crypto market is up $21.3 billion (+2.41%).

The Crypto Market Movers and Shakers from the Top Ten and Beyond

It is a bullish Sunday session for the crypto top ten, with 100 minutes (UTC) of the session remaining.

XRP leads the way, rallying by 4.13%, with DOGE and SOL seeing gains of 0.90% and 0.81%, respectively.

However, gains are modest for the rest of the pack.

ADA (+0.24%), BNB (+0.51%), BTC (+0.14%), and ETH (+0.43%) trailed the front runners.

From the CoinMarketCap top 100, it is a mixed session.

TerraClassicUSD (USTC) leads the way, rallying by 15.63%, with bitcoin gold (BTG) and Quant (QNT) seeing gains of 7.49% and 5.63%, respectively.

However, Huobi Token (HT) leads the way down, falling by 4.00%, with Convex Finance (CVX) and Lido DAO (LDO) seeing losses of 1.42% and 2.09%, respectively.

24-Hour Crypto Liquidations Fall Further as Market Steadies

Over 24 hours, total liquidations declined as the crypto market steadied after a four-day losing streak. At the time of writing, 24-hour liquidations stood at $15.62 million, down from $32.16 million on Sunday morning.

Liquidated traders over the last 24 hours also fell. At the time of writing, liquidated traders stood at 7,550 versus 12,566 on Sunday morning. Liquidations were down over one, four, and 12 hours.

According to Coinglass, 12-hour liquidations were down from $27.29 million to $11.24 million, with four-hour liquidations down from $23.19 million to $5.33 million. One-hour liquidations have fallen from $0.712 million to $0.223 million, hovering well below normal levels.

The chart below shows market conditions throughout the session.