Altcoins Awaken, What Has Driven The Epic XRP Surge?

As reported by News BTC, “In a rare move this year the altcoins have taken off today and their big brother has stalled its engine. Specifically Ripple’s XRP and payments token Stellar Lumens are driving the rally as total market capitalization and volume crank higher.

“For the best part of this year Bitcoin has been ruling the roost and dominating market movements. However it is finally the turn of the altcoins today as BTC runs out of steam just above $10k.

“Ethereum has been on a roll since the weekend and has managed to hold on to gains above the psychological $200 level. Yesterday’s BitPay support announcement has added to the bullish fundamentals for ETH and a golden cross on the four hour chart confirmed things technically.

“On the day Ethereum has gained a further 7 percent from just under $200 to top $211 at the time of writing. According to Tradingview.com ETH topped out at $215 a couple of hours ago before retreating slightly. It has now reached its highest level for over a month and is eyeing the next resistance level which lies around the $230 price zone.

“Today’s big mover has not been Ethereum though. The Ripple token has finally lifted off its yearly low and surged a monumental 20 percent in its largest move since May. XRP has been floating around the $0.26 level for most of this month but it started to surge during trading yesterday and has continued into today topping out at just over $0.31 before a slight pullback.

“According to the XRP Army’s Reddit there have been rumors of a tie up with the San Francisco based blockchain firm and Coinbase though noting official has been announced…”

Continue to read the full story at News BTC.

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