Cryptocurrencies mount modest rally led by XRP
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.
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.
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