Cryptocurrencies mount modest rally led by XRP

September 26, 2018
Chris Wheal

Given the sell off seen so far this week it was difficult to say which direction cryptocurrencies were going to take on Wednesday, with market looking rather flat in European morning trade.

Ripple continues to make some dramatic moves

Only ripple (XRP) appeared to making a significant move – although investors have become familiar with XRP’s dramatic price swings in recent weeks.

Indeed, ripple was trading as low as $0.4356 on Tuesday, and had traded as high as $0.5432 on Wednesday.

While it was up around 14% in late morning trade, its rivals were looking somewhat flat after around three sessions of losses.

Positive news

Yet much of the news flow of recent days has been broadly supportive of cryptocurrencies. US Congress appears to coming out in support of the asset class and is set to demand clearer regulations and a lighter-touch legal framework.

Meanwhile, Google has lifted its blanket ban on cryptocurrency advertising and will allow registered exchanges and securities to apply for ad space.

Price round up

Here’s a round up of the price movements among the top 10 cryptocurrencies on Wednesday at 11am [London time]:

  • Bitcoin +0.5% at $6,452
  • Ethereum +0.6% at $213.96
  • Ripple +14.2% at $0.53
  • Bitcoin cash +0.7% at $446.52
  • Eos +3.5% at $5.36
  • Stellar lumens +4.7% at $0.25
  • Litecoin +2.6% at $56.91
  • Tether unch at $1
  • Cardano +3% at $0.08
  • Monero +1.8% at $113.53
Post written by Chris Wheal
Chris Wheal is editor of OpenLedger's news and features service. An award-wining business journalists himself, he runs a team of freelance journalists from across the UK and north America.

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