The cryptocurrency market experienced a significant upturn on Monday, with Bitcoin leading the charge. The world's largest cryptocurrency surged by 2%, triumphantly breaking through the $70,000 barrier. This marked a notable recovery after a relatively quiet weekend.
The positive sentiment extended to major altcoins as well. Ethereum and Solana both enjoyed impressive gains of over 3%, trading at $3383 and $190 respectively. XRP also saw a positive performance, climbing 1.5% to surpass the $0.6 mark.
While the overall market trend appears bullish, it's important to note that the upcoming release of XRP tokens from the escrow wallet could introduce additional supply pressure, potentially impacting the coin's price.
Investors will be keeping a close eye on how the market reacts to this upcoming event.
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