Crypto market is back to green once again breaking through the previous high from the last rally indicating a strong bullish sentiment. Total market capitalization surpassed the $350 billion level and the buying orders were strong yesterday morning in Asia. Bitcoin was trading upwards of $8.350 marking a 2% gain on one day. The trend is followed by altcoins with the one leadi8ng the way ion the top 25 was Ripple.
According to Coinmarketcap, XRP noticed a 15% gain which positions it ahead of all other cryptocurrencies during the Asian trading session. Ripple’s digital coin is currently trading at $0.84 which is a steady gain from the $0.72 level that it was on Thursday. Meanwhile, over the week Ripple has soared 38% from $0.61 this time last Friday. After a three-month period of selling pressure, the market shows recovery signs, with Ripple having a monthly performance of around 25%. Against BTC, Ripple is up 14% at 10160 satoshis from 8900 sats this time on Thursday. The weekly chart shows an almost 30% gain from 7870 satoshis the same time last week.
The number of partnerships and agreements Ripple has signed exceeds that of all other cryptocurrencies combined. However, this has not yet been reflected in price action over the past few months. It is becoming the company of choice regarding cross-border payments, with the company’s xCurrent platform to be used by over a hundred financial institutions around the globe. None specific announcement seems to be responsible for this current bullish breakout as XRP heads back towards the dollar.
The majority of trading on Friday’s morning has occurred in South Korea on Bithumb and Upbit which have 40% between them ion KRW. Japanese Bitbank is the third exchange heavily trading XRP at the moment. Total volume has increased almost 80% from $746 million to over $1.3 billion in the past 24 hours. Ripple’s coin is a solid third in the market cap charts with $33 billion
Total market capitalization has increased by 5% in the past day and is currently at $365 billion. This is higher than the previous high from the last rally which is a very good sign for market recovery. Other altcoins showing double-digit gains in Asia this morning are Bitcoin Cash, Verge, and Nano.