XRP Leads Crypto Pack as Alts Dominate BTC Amid Market Resilience

Wintermute, one of the largest market makers in the industry, has released their latest market recap. According to their expert panel, the cryptocurrency sector has shown resilience despite the hawkish tone from Fed Chair Kevin Warsh and a crunch in the U.S. IT field.

The report highlights that the chip sell-off month did not force Bitcoin (BTC) to give away its breakout gains. Instead, BTC went against expectations, beating major analysts' predictions. The broader altcoin market also showed signs of life, with altcoins at +0.61% beating both majors.

XRP was the leader in this pack, surging from $1 to $1.70. Some Wall Street giants like Goldman Sachs timed their opportunity perfectly. However, Wintermute cautions that a one-week trend should not be taken as a general conclusion, and geopolitical squabbles can still affect price values.

The FOMC meeting on September 15-16 will likely play a key role in determining the market's near-term direction. With both XRP & Bitcoin (BTC) registering beyond ten straight days of positive ETF inflows, institutional interest is also expected to continue. XRP's products pulled in $110 million last week, while BTC's ETFs inked $925 million.