According to CoinDesk, the first cryptocurrency overcame the $8,000 mark on May 14 at 21:30 UTC. After that, the price corrected with a subsequent increase. At the time of writing the news, the cost of Bitcoin (BTC) is $8,112, according to CoinMarketCap. This is its highest since July 2018.
“Buyers outweighed sellers, and market makers felt the imbalance pressure so they took their markets higher. This price appreciation triggered algos, stop losses and liquidations, which only added fuel to the buying pressure,”
— commented Jeff DORMAN, chief investment officer of asset manager Arca. Bitcoin growth started in early April, when the price rose by more than 20% in 24 hours.
It seems that the time has come for Ripple to catch up with Bitcoin: in the last 24 hours the price of the coin surged by 22%. Analysts cite two possible reasons: Coinbase, a cryptocurrency exchange, allowed XRP trading for New Yorkers. In addition, the German stock exchange Börse Stuttgart has added XRP ETN. Twitter users say that XRP is traded at the price of $ 0.40 per coin on the Kraken exchange.
Image courtesy of Bitcoin Exchange Guide