Main Reasons For ETH And XRP’s Price Boost
The crypto market exploded these days with Bitcoin being able to surpass $18k for the first time in three years.
Altcoins have also exploded these days with ETH and XRP being the main stars.
Forbes notes that XRP, ETH, LTC are now the world’s biggest cryptos after BTC.
Forbes wrote that Ethereum, XRP, Litecoin and chainlink have a combined market value of around $100 billion, and they have each added between 20% and 50% this week – in other words; they outpaced even BTC’s rally.
Ethereum, XRP, Litecoin and Chainlink have been boosted by BTC’s growing popularity; other crypto trends have also pushed the prices up according to the online publication.
“Ethereum’s touching $500 for the first time since June 2018 represents a significant milestone,” Paolo Ardoino, the chief technology officer at British Virgin Islands-based Bitfinex, told Forbes.
He continued and said “Ethereum’s up, and coming transition to proof-of-stake is being closely watched. [Its] strong price performance underlines a mood of optimism that seems to be lifting the crypto space. While bitcoin is the undisputed king of crypto, the flourishing ethereum community is alive with many possibilities.”
Ripple hits the highest price since July
Regarding Ripple’s XRP, the other day we were reporting that the coin was up by more than 33%.
This is the coin’s highest price since the past July. Now, at the moment of writing this article, XRP is trading in the green and the coin is priced at $0.446890. In the past 24 hours, XRP is up by more than 20%.
We were also revealing that a popular XRP analyst and trader said that XRP might finally be entering a long-awaited bull cycle.
The analyst goes by the name Magic.
— MAGIC (@MagicPoopCannon) November 17, 2020
Ripple has been working hard to push the XRP mass adoption and to boost the whole XRP ecosystem as well. The community is excited to see the coin’s price mirroring the success of the firm.
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.