Bitcoin Slumps to 9-Day Low as Ripple Rebounds

Ripple's XRP rebounded from its lowest price in nearly two years, while Bitcoin (BTC) fell to a 9-day low of $63,200. The drop was attributed to the primary cryptocurrency's rejection at $65,400 earlier this week.

Bitcoin had previously dipped to an August low of $62,200 on August 3 and reacted well by surging to $64,000 within a day. However, it was halted after reaching $65,000 due to the CLARITY Act stalling in the US Senate. The weak US jobs report on Friday resulted in a relief rally for BTC, which jumped to $65,400.

Ripple's XRP slipped below $1.00 yesterday for the first time since late 2024 but has rebounded to $1.02. Analysts are split on whether this is a warning of a bigger storm ahead or a hidden accumulation opportunity.