Cryptocurrency Markets Continue Resurgence as Ripple Claims 68 Percent Weekly Gains


#1

Bitcoin (BTC) has rapidly corrected its monthly losses Friday, September 21, after markets rallied to send prices above $6,700 for the first time in two weeks.

Data from Cointelegraph’s price tracker and Coin360 confirms a strong performance for Bitcoin, which had seen a week of flat trading closer to $6,200.

he move upwards, which occurred over several hours, came as news broke that U.S. regulators had again postponed their decision on the VanEck/ SolidX Bitcoin exchange-traded fund (ETF), but had not rejected it outright.

At press time, BTC/USD was trading around $6,707 an increase of about 5 percent on the day, taking prices back to the range they hovered in during mid-August.

In altcoin markets, Ethereum’s (ETH) reversal of fortunes continued after weeks of beating Bitcoin on losses. Prices at press time for ETH/USD hit $225, also a first since September 7, having fallen as low as $171 in the meantime.

Ripple (XRP) nonetheless stood out as the clear winner on Friday, continuing its surge of over 44 percent on the day to hit weekly gains of around 68 percent, currently trading around $0.46.

Commentators were initially unsure as to the motivation for such a rise, Ripple itself having hintedits xRapid payment transfer network would shortly begin serving its first banking clients. xRapid would offer international payment settlements using XRP directly as an intermediary currency.

Elsewhere in altcoin markets, Stellar (XLM), Tezos (XTZ) and Cardano (ADA) also produced healthy gains of between 15 and almost 18 percent. Total market cap is now around $217 billion by press time.

source: https://cointelegraph.com/news/cryptocurrency-markets-continue-resurgence-as-ripple-claims-68-percent-weekly-gains


#2

I think this is really amazing, 68% increase per week is hard to get. There is a special strategy from the Ripple team who are always smiling members of the community.


#3

People always follow the concept ‘Buy the rumor and sell the news’. When ripple will officially launch the xRapid, we’ll see price pullback almost instantly.
Btw its very nice to see market climbing the ladder a little. We did even go under 200 billion marketcap at one point. Ethereum is 240+ which is a really good sign for alts.


#4

The market moves up and down daily, this is normal. We are always pleased to see the positive dynamics, it gives confidence.


#5

Yeah, you are absolutely right but we haven’t seen this much gain in the market for more than two weeks now. Those were the days when btc was dipping but getting back at 8000+ in almost a week’s time but now 8000 is like some miracle which we all are praying to happen.


#6

Yeah. There has been a lot going on. I have been seeing articles regarding XRP’s xRapid, its partners and plans. Who would have thought, a kind of coin with huge supply. Many speculators have doubted it will even cross a dollar for a short period of time as it will surpass top coins. Well that happened last year. It even crossed at 3$ level. And currently, it is gaining more than 68% now, dethroning ETH’s second position in coinmarket capitalization. There has been a current news about its product just recently, and it made a huge impact. See how news can help us be aware and informed of what is going on. As for ETH, it is recovering too. :grin::grin: It was below 200$ days ago. Glad to see greens now.


#7

Last year it was like. Come on! 8k? It’s too low and now, can you move a little higher near 7k or 8k? Haha. What a turn of events for crypto. But I am still bullish with blockchain.


#8

You can laugh man but I’m really longing to see bitcoin at 8k now. There were days when we saw it over 15k for many days but time is different now. At least for now. I’ll be happy at 8k at the moment :slight_smile:


#9

I kind of hate XRP. I got rekt man, I was one of those idiots who bought xrp at 1.5$ and then 3$ and that’s how I lost my money.

I really don’t understand why and how xrp with such high circulating supply is being traded at such a high price. There are many better coins but they just don’t get recognized.


#10

Several altcoin rising in last couple weeks, i think its a sign of bull run, i think bull run will come early, maybe Q2 2019


#11

Q2 is still very far from now. If we get some more good news regarding some countries accepting crypto and doing something extra ordinary for the regulations and to save the investors from scams, it’ll help very much. Alts have risen a little but they have stabilized, we need to have btc above 7000 resistance to see more rise.


#12

Well they have been making noise around for the past weeks. Just recently, the coinbase rumor just made another spike in price, from about .45 to .55. They have been in touched with institutions, financial institutions specifically have been working with them and making some news. Aprt form XRP, ETN is having price spike too, I do not know if you are familiar with it. These two have been making round of price increase.