XRP Rallies While Bitcoin Nears USD 38K & Total Market Cap Smashes USD 1 Trillion

  • 07 January 2021, Thursday, 01:06
XRP Rallies While Bitcoin Nears USD 38K & Total Market Cap Smashes USD 1 Trillion
Source: Adobe/Wit

The most troubled major cryptoasset, XRP, rallied in the past few hours in double digits, while the most popular cryptocurrency, bitcoin (BTC), jumped above USD 37,000, helping the total crypto market capitalization surpass USD 1 trillion for the first time.

At pixel time (04:51 UTC), XRP is up by 13% in the past hour alone and is trading at almost USD 0.303. The price is up by 33% in a day and 40% in a week, trimming its monthly losses to less than 53%. XRP is the second-best performing top 10 coin today, only after stellar (XLM), which is up by 72%.

XRP price chart:

The token is rallying despite numerous bad news that keep coming for XRP and the lack of good news.

In the meantime, BTC is now getting closer to the USD 38,000 level and is trading at USD 37,619. It's up by 6% in a day and 30% in a week. The price almost doubled in a month.

Also, the total market capitalization now stands above USD 1 trillion, reaching USD 1.015tn -USD 1.036tn, depending on a data provider. Bitcoin dominance, or the percentage of the total market capitalization, is around 68%.

As reported, as bitcoin's latest surge continues to convert ranks of legacy finance institutions into crypto-enthusiasts, legendary investor Bill Miller predicts that "the current relative trickle into bitcoin" could become "a torrent."

Also, Revolut said it has attracted 300,000 new crypto customers over the last 30 days, while around 100,000 of those signups came since the beginning of 2021, Business Insider reported. At the same time, crypto trading startup Luno said that it recently surpassed 6 million customers and has seen a surge in activity in recent days, the report added.

In other words, the BTC bull run is just getting started. https://t.co/QR1KA5L1M4

— Marc van der Chijs (@marcvanderchijs)

"If #bitcoin never existed gold would be rallying even more right now, but I guess if you are under 40 bitcoin is y… https://t.co/g7x4BAsW4J

— Squawk Box (@SquawkCNBC)

Great thread from @kenoshaking!

— Rafael Schultze-Kraft (@n3ocortex)

Find more insights and forecasts about the recent rally here.

Learn more: Fact-checking Ripple’s Claim that ‘Many G20 Gov’ts’ Call XRP a ‘Currency’ Current Bitcoin 'Mania' 'Unsustainable', Long-Term Target - Over USD 146K - JPMorgan Bitcoin, Ethereum, XRP, Bitcoin Cash, Litecoin, Chainlink Price Predictions for 2021 Crypto in 2021: Bitcoin To Ride The Same Wave Of Macroeconomic Problems Bitcoin Wheel Cannot Be Stopped

Source: cryptonews.com