Ransquawk

Alternative cryptocurrencies in the last days are experiencing a real boom – as much as 90% of the largest – are noting increases, beside which it is impossible to pass by. In earlier articles, we reported that the new ATH (all time high) reached, among others, ETH and LTC – also joined by the popular Ripple, which tests levels above $ 0.47 on Wednesday morning by drawing historical maximums on the Luxembourg Bitstamp exchange.


XRP capitalization currently at $ 19 billion.

Due to the latest increases, the market capitalization of Ripple is over $ 19 billion on December 13, ahead of Litecoin and IOTA on the list of the largest altcoins. According to the benchmark of the Coinmarketcap.com portal, the change in the XRP price in the last 24 hours was almost 90%, and the average price from the largest stock exchanges is now over $ 0.50.

Today’s appreciation means that Ripple is returning to the levels it was defeating in May this year, when we witnessed the boom on alternative cryptocurrencies (derivatives of Bitcoin). After quite a dynamic correction, the XRP quotes moved under the resistance of 0.2800, and from the south they regularly tested the trend line. The range of the wedge was finally broken and this is really a very strong impulse:

At this moment Bitcoin is responsible for less than 40% of the turnover in the entire cryptocurrency market, while Ripple is responsible for around 5%.

What caused such dynamic increases in Ripple?

The positive moods triggered by the introduction of Bitcoin futures are not the only reason for the appreciation of XRP. Currency designers have recently confirmed their cooperation with American American Express credit cards issuers. The entity, through cooperation with Ripple, wants to solve the problems of illiquidity when offering immediate payments through blockchain.

Not without immportance is also the role of the new ATH at Litecoin and Ethereum, which were mentioned in the introduction.

Leave us a comment!

Ransquawk