Crypto Market Corrects as Rally Cools Down

The cryptocurrency market is experiencing a correction on Monday after last week's rally. Ripple (XRP) has cooled down, trading around $1.48, down from its peak of $1.70 reached just last week. This represents a 13% drop and follows the token's 72% surge since it was at $1.00 last week.

The correction is part of a broader market trend as investors take profits after last week's gains. Bitcoin (BTC) has also pulled back, hovering around $77,500 on Monday, having reached as high as $79,500 on Friday. The cryptocurrency has gained over 20% in the past week and is being supported by changes in the US bond market, renewed investor demand, and a return of the debasement trade.