Bitcoin Rebounds Above $80K, XRP Defends Key Support Level

Bitcoin's price has made a swift recovery from its dip below $79,000 on Monday, reaching above $80,000 for the first time in months. The cryptocurrency had briefly dipped below the lower boundary of its trading range before bulls stepped up and initiated a massive leg up.

The strong US jobs report released on Friday afternoon was followed by a major leg down, driving bitcoin's price under $79,000 by the end of the day. However, it rebounded over the weekend and remained close to $79,000.

Ripple's XRP has also seen a significant recovery, defending its key support level at $1.40 after slipping below it yesterday. Ethereum is trading above $2,500 once again, with SOL and HYPE hitting new all-time highs.