What a wild week for crypto.
After a market-wide plunge on Monday that saw Bitcoin briefly dip below $90,000 and other leading assets similarly dive into the red, nearly everything turned green Wednesday following an anticipated U.S. inflation report.
But XRP is far outpacing other top coins Wednesday, surging by 19% over the past 24 hours to a current price of $3.18—the highest price seen for the Ripple-linked asset since 2018.
XRP Hits 7-Year High Price as XRP Ledger Meme Coins Surge Again
XRP is up 15% in the last 24 hours, reaching a price not held since 2018 as trading volumes and meme coin prices on the XRP Ledger both surge higher. The Ripple-linked XRP has significantly outperformed other major crypto assets in the last week, gaining by 28% in that time and rising to the third overall cryptocurrency ranked by market cap. It rose as high as $2.99, a seven-year high for the coin, though it has since dipped to $2.95. The move comes amid rising optimism about the approval of X...
With a 32% gain over the past week, fueled by optimism over potential XRP ETF approvals and Ripple leadership's meeting with President-elect Donald Trump, XRP is now has less than a 9% climb to match its all-time high mark of $3.40 set back in January 2018.
Elsewhere in the top 10 coins by market cap, Solana is the next-biggest gainer with a nearly 9% spike over the past day, rising to a weekly high of just shy of $205. SOL is only up 3% on the week, however, with today's surge making up for only some of the losses earlier in the week.
And Dogecoin is also on the rise, with the original meme coin jumping 7% on the day to a current price of $0.382—the highest price registered for DOGE in more than a week. Cardano, meanwhile, is up almost 8% on the day to $1.08.
Bitcoin Surges Above $100K as Inflation Fears Fade Ahead of Trump’s Inauguration
The price of Bitcoin topped $100,000 Wednesday, surpassing the psychological mark for the second time since the Federal Reserve’s hawkish outlook put pressure on risk assets. When the U.S. central bank signaled in December that it would cut interest rates at a slower pace this year, Bitcoin tumbled from its peak price above $108,000. As signs of strength in the U.S. economy deepened inflation concerns, Bitcoin’s price fell below $90,000 on Monday. Showing a nearly 4% gain over the past day, Bitc...
Bitcoin briefly jumped above the $100,000 mark earlier Wednesday afternoon but has since retraced to a current price of about $99,700. It's still up more than 3% on the day.
