Yuri Molkhan
The price of the flagship digital currency has skyrocketed as everyone eyes the XRP boost
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Contents
- Bitcoin breaks 13-month price high
- The XRP price is increasing massively
As the crypto market feels positively impacted by the recently announced Ripple SEC case results and the Ripple-linked XRP token surges, leading cryptocurrency Bitcoin has also hit a new price high not seen since last year.
On-chain data aggregator Santiment tweeted the reasons Bitcoin has made a new price high of $31,500.
Bitcoin breaks 13-month price high
On Thursday, June 13, bitcoin price suddenly surged 4.45% to hit $31,636 — not seen since June 1 of last year, according to a recent tweet from Santiment. However, BTC has since lost some of those gains, with the overall gain since yesterday standing at 2.92%. Bitcoin is changing hands at $31,203 on crypto exchange Bitstamp.
Bitcoin’s market cap increased by 2.15% and now stands at $606,498,554,805. The trading volume increased by 78.72% and reached $26,275,297,330.
Aside from the XRP price surge caused by Ripple Labs’ partial victory over SEC regulators in court, Santiment also stated that mid-market traders were showing “the biggest signs of bitcoin accumulation.” These include “dolphin”https://u.today/”shark” (wallets with 0.11-100 bitcoins) and “fish” (wallets with up to 0.1 BTC).
The second-largest cryptocurrency, Ethereum, also saw a sharp rise following the news of Ripple’s gain. ETH is up nearly 5%, for a total of 7.58% over the past two days, briefly surpassing $2,000. Meanwhile, however, Ethereum is down 1.37% and is trading at $1,997.
The XRP price is increasing massively
In the last 24 hours, the sixth-largest cryptocurrency, XRP, briefly surged more than 100% to hit $0.94. However, the trade closed up 74% as the price settled at $0.82325.
Meanwhile, the coin’s price is down 5.61% to sit at $0.77597.
The huge price increase was triggered not only by Ripple’s partial victory over the SEC in court, but also by the fact that major exchanges gradually started to allow XRP trading on their platforms – Kraken, Bitstamp, Coinbase and Crypto.com – to resume.
This marks the first crucial victory for Ripple since proceedings began in late December 2020, when it was initiated by securities regulators who claimed XRP was an unregistered security that was illegally sold not only by Ripple Labs but also by its CEO Brad Garlinghouse and co-founder Chris Larsen.
Now, Judge Analisa Torres has ruled that Ripple’s institutional XRP sales were in fact securities. However, this was not the case for programmatic and all other sales.
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