Crypto Market Shakes on Friday, JUP Skyrockets, SHIB Struggles, XRP Price Crashes

• Jupiter (JUP) rose almost 6% and is up by more than 34% in one week.
• Shiba Inu (SHIB) crashed by almost 7% in the past 24 hours.
• XRP also wiped out a fraction of gains made in the past 2 weeks, dropping by 6%.

The crypto market opened Friday on a sluggish note, unable to reach new highs and struggling to maintain current levels. Investors may see a slight correction after the recent market recovery if buying demand does not increase.

Bitcoin (BTC), the leading digital asset, fell nearly 1%, showing stagnant movement and failing to hold prices above $65,000. The cryptocurrency is currently trading at $64,135, with a 14% decline in trading volume. However, the Bitcoin Fear and Greed Index indicates that the market is in a state of “Greed,” suggesting demand could rise soon.

One of the worst performers in the crypto space in the last 24 hours was XRP which crashed 6% and is currently trading at $0.5542. Notably, the trading volume of the altcoin dropped 32.27% and it seems that investors are capitalizing on the gains made in the past two weeks. 

As the TradingView chart below illustrates, XRP rose from a low of $0.4032 to a high of $0.6378, marking a 22% increase in the past seven days. However, it appears investors are now selling their holdings after two weeks of significant price gains.

Jupiter (JUP) performed well, rising by almost 6% in the past 24 hours. A major reason for this surge could be the rising DEX volume on the Solana blockchain, as previously reported by Coinedition. The altcoin is currently trading at $0.9758, with a 45% surge in trading volume and a 34.40% increase over the past week.

Shiba Inu (SHIB), the second-largest meme coin, failed to make significant gains, with prices falling almost 7% in the past 24 hours. The meme coin is trading at $0.00001747, 80.29% lower than its all-time high of $0.00008845 reached in October 2021.