The cryptocurrency market reached the mind-blowing two trillion US dollars market cap in this past week. This occurred after a number of altcoins went bullish and shifted the overall market. The big surprise was Ripple, which rallied with some 60% for about seven days. According to data by Coinmarketcap the total value of the crypto industry reached its peak, $2 trillion on April 5th. XRP has not been this high since may 2018, on April 5th it was trading for 0.93 USD, but today its price is already 1.69USD. The Bitcoin current market cap hovers around 1.1 trillion US dollars, so it remains the biggest crypto in the world. Bitcoin is followed by Ethereum, which reached 2150 USD price per coin after increased demand from institutional and retail investors. XRP, which had significant problems only a few months ago, after SEC filed a lawsuit for over a billion US dollars against Ripple Labs, is the sixth largest crypto in the world, after its market cap reached 40 billion, more than Litecoin, Uniswap, and Cardano. I did not think Ripple would come back, stronger than ever, after the SEC lawsuit, but here we are.
The lawsuit is not looking good for the sec. The judge denied sec access to personal financial informations of ripple executive and granted ripple access to some sec document treating BTC and ETH as crytpo currencies and not securities. If the lawsuit fails, it will be a good sign for cryptos, major and alt.
As far as a know xrp is not set up like BTC and Ether on decentralized blockchains. It is more like a security. I know little, so would be great if anyone explains here.
Ripple has always been supported in the US banking industry from the start. If anyone could come through with a win against SEC they could. Surprised sec even pursued this.....Fed hoped they could quash crypto quietly but I don't think that's going to happen. At this point Ripple's win is an underlying positive for all of crypto. If the Fed goes hard at bitcoin at this point, people with deep pockets will be asking that the Fed be dismantled and the popular vote will be behind them. Main street Banks within the Fed structure are starting to distance themselves from the NY Fed on this issue. The SWIFT issue stings hard for US treasury and USD fiat.... But they couldn't expect to keep a monopoly on money transfers for this long. As long as Ripple stays inside of US federal criminal checks and transfer protocols on money transfers they are golden.
Insane day in the cryptocurrency markets. Bitcoin at fresh highs and even little coins skyrocketing. Just a tad bit of euphoria in this bubblicious sector.
I was going to by XRP but don't have access to that cryptocurrency. Was around 30 cents a few months back, now over $1.50. No worries as the next drop will bring all cryptocurrency collapsing.
Doge up to 10 cents!!!!!!! Everyone is calling for a $1!!! These magical coins are making everyone rich....
this whole bubble reminds me of .com from 20 years ago. The big difference is that internet was integral and important function of our society and yet all collapsed. if you remove cryptos completely from the world, vast majority would not even notice and world would not change much. add on top of that Tether and alike manipulation and you have got an epic collapse like no one have ever seen coming. The only question is what will trigger it????
One of the biggest situations going right now in markets and here on elite trader is that many older VERY SUCESSFUL longtime traders just don't understand this instrument (bitcoin). And they choose not to study it. So they hate it. And as it starts to make more and more sense, they fight it even harder. The world is really round. Its NOT FLAT.