XRP Rallies Above $0.35 While Ethereum and Bitcoin Forks Make Explosive Moves

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Sun, 01/10/2021 - 09:58
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Alex Dovbnya
Ethereum has hit $1,300 while Bitcoin Cash has soared nearly 50 percent
XRP Rallies Above $0.35 While Ethereum and Bitcoin Forks Make Explosive Moves
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XRP, the fourth-largest cryptocurrency by market capitalization, is once again changing hands above the key $0.35 level after slumping to $0.30 earlier today.

XRP
Image by tradingview.com

Benefiting from the broader market revival, the cryptocurrency is finally seeing a sustained relief rally after being hit hard by the SEC’s charges against affiliated company Ripple.

Ethereum is awfully close to a new all-time high 

While XRP is still down a whopping 89 percent from its all-time high, its longtime rival, Ethereum, is about to make history. 

After finally breaching the $1,300 level, the second-largest cryptocurrency is now just 7.89 percent away from its all-time high of $1,448 that was set on Jan. 13, 2018.    

In the meantime, the total value locked in decentralized finance (DeFi) protocols is nearing $24 billion.  

Embattled Bitcoin forks finally have their moment  

While the gains of the two biggest altcoins are undoubtedly impressive, they can’t hold a candle to the massive moves that have been recorded by Bitcoin Cash and Bitcoin SV over the past 24 hours.

Earlier today, Bitcoin Cash soared to $629.79, its highest level in 27 months. 

Craig Wright-backed Bitcoin SV soared to $325, which is just 34.76 percent from its all-time high of $438 that it reached on Jan. 14, 2020. 

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Another altseason? 

The list of other top-performing altcoins includes EOS (24.85 percent), Maker (67.12 percent), and Dash (48.75 percent).

Following the revival of altcoins, Bitcoin’s market share has dropped to 68.4 percent. The top cryptocurrency is trading just below $41,000 at press time.  

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.