Altcoins are moving sideways after attempts at a rebound yesterday. Several market areas are trading in this direction with bulls repositioning during mid-week trading. Although slight gains were recorded at press time, sentiment remained low following days in the red zone. Last week, crypto assets recorded sharp losses plummeting the market cap to lows not recorded in a month.
Macro factors led to exits from Bitcoin as the price dropped below $61,000. This sparked a major sell-off in altcoins and meme coins adding to the declined market cap. The total crypto value is $2.27 trillion from a previous figure of over $2.6 trillion. With current fluctuations, traders seek to reposition holdings. Here are 3 crypto to sell this week.
Ripple (XRP)
Ripple is down 0.92% while other top altcoins have picked up little gains in the market. XRP trades at $0.4751 with a market cap of $26.1 billion after weeks of negative trading. A major reason why users consider XRP as part of altcoins to sell is due to its slow recovery in the last 24 hours. Weekly numbers also plunged over 4% while monthly exits remain in double digits. Overall trading volumes are also down 16% to $887 million.
Polygon (MATIC)
Polygon continued its downward trajectory after weekly lows. The asset trades at $0.555, a 2.85% decline in the last 24 hours. Like Ripple, MATIC shows limited signs of a rebound coupled with a 33% drop in trading volumes. Daily trading volumes fell to $179 million as bulls lose steam. MATIC monthly figures declined 23% wiping out a significant part of previous gains.
Meme coins were most affected by the crypto market decline due to price volatility. Shiba Inu is down 2.3% in the last 24 hours trading at $0.00001743. Weekly outflows in the asset plummeted bullish activity making it among altcoins to sell for most users. Furthermore, daily volumes stand at $260 million, a 22% drop.
