XRP and Stellar Altcoins Surge to All-Time High

Ripple’s XRP

Ripple’s XRP is currently the world’s fourth-biggest cryptocurrency by market value behind Bitcoin, Ethereum and Litecoin. This is after a dramatic increase over the last week increasing by 128.86% in the past seven days, adding around 150% to its price. XRP has been seen to climb the market chart since the beginning of 2020, though it remains far from the all-time high achieved in 2017.

Analysts suggest that XRP has been able to become second in the cryptocurrency market after the company Ripple suggested it is going to capitalize on a central bank rush to digitalize their currencies.

Since, Ripple’s XRP is trading at $0.6895 as of this morning, after reaching a high of $0.92 before a sudden 30% crash which came after a major technical outage. Nevertheless, Ripple’s XRP still remains far from its peak of over $3.

If XRP continues to rise, analysts predict that it could reach $25 to $30 in the long-term cycle.

Stellar (XLM)

During these weekly gains, Stellar has also gained the eyes of people watching the cryptocurrency market, reaching weekly gains of over 90%. As of this morning, Stellar was trading at $0.2164 which has come after a 45.14% increase in the past 24 hours. As well as an increase in the past 24 hours, an increase can also be seen in the past week, at 157.56%, and last month, at 163.90%. However, it is far from its all-time high of $0.60 which means it would need to perform better in the coming weeks to be able to reach that high.

After reaching $0.22 earlier this morning, there has been an increased selling pressure, encouraging more sellers to join the market. This comes after a high of 200% rally in November alone, achieving a monthly peak of $0.219.

How have other coins like Bitcoin, Bitcoin Cash and Ethereum been affected?

Since the all-time high altcoins surge from XRP and Stellar, the cryptocurrency market has seen other changes. More specifically, both bitcoin and ethereal have climbed the market this week, adding 10% and 30% respectively.

Bitcoin represents less than two-thirds of the overall cryptocurrency market, ranking as a top 20 most valuable asset in the world.

People are constantly checking to see if Bitcoin is sustaining its climb of the market, watching to see if it will establish a new all-time high since the peak of December 2017. Although the price of Bitcoin is nearing an all-time high, it is not quite there yet.

• Today’s numbers:
  • Trading at $19,309
  • Increase by 0.74% over the past day
  • Increase by 8.33% over the past week
  • Increase by 41.50% over the past month

Bitcoin Cash (BCH)

Bitcoin Cash is finally catching up with the market reaching a price of $344.39 as of this morning.

BCH is the world’s fifth-biggest cryptocurrency by market value, behind Ripple’s XRP. The graph highlights how BCH is catching up and starting to increase with the rest of the cryptocurrency market.

• Today’s numbers:
  • Trading at $343.26
  • Decreased by 2.60% over the past day
  • Increase by 40.05% over the past week
  • Increase by 29.72% over the past month