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Earlier today, on March 5, the price of XRP, Ripple’s native cryptocurrency, recorded 18% peak, becoming the leading performing cryptocurrency on the market .
Ripple & # 39; s Run
The overall valuation of the entire cryptocurrency market has increased by $ 25 billion, small cryptocurrency and tokens like Particl, Ziliqa, and Ethereum creator Vitalik Buterin noting that Kyber Network recorded a value increase of almost 20%. ]
While bitcoin, the most dominant cryptocurrency on the market, has outperformed alternative cryptocurrencies in the past 24 hours, alternative cryptocurrencies have begun to gain momentum, outperforming bitcoin
The bitcoin dominance index, which measures the prevalence of cryptocurrency on the market, remains at 41.2%, an annual high, despite the strong performance of alternative cryptocurrencies.
Several highly respected analysts, including Max Keizer, said that the bitcoin dominance index is expected to reach 60% and potentially 80% in the medium term, as it continues to dominate the market. But, if alternative cryptocurrencies and other major currencies like Ripple and Ethereum begin to regain momentum at this point, it could be difficult for Bitcoin to regain the dominance it had on the market. ;last year.
Traders have suggested that the price of Ripple, the largest cryptocurrency in the market, has surged because of unconfirmed rumors that Coinbase, the largest cryptocurrency brokerage platform in the world, world, will integrate Ripple.
“Ripple CEO Brad Garlinghouse and Coinbase President, Asiff Hirji, will appear on CNBC’s” Fast Money “on Tuesday, March 6. After months of suspense between the possibility of an XRP in the Coinbase list, this could finally be done, “ a merchant said echoing the views of most Ripple investors ]
According to Cryptowat.ch, long positions in the Ripple-to-USD futures market on the Bitfinex trading platform also jumped in volume, due to the anticipation of trading. Ripple of Coinbase.
However, this anticipation could also lead to a sharp drop in the price of Ripple if Coinbase eventually not to integrate Ripple, as was the case last year, when similar rumors emerged.
Coinbase is unlikely to incorporate Ripple this week, as it still handles class actions regarding insider trading allegations against Coinbase employees.
Ran Neuner, host of the popular CNBC CryptoTrader cryptocurrency program said:
I think it’s time to renew XRP. pic.twitter.com/7ByDeS8pTZ
– Ran NeuNer (@cryptomanran) March 5, 2018
At present, the entire market is blocked due to lack of volumes. The valuation of the cryptocurrency market continued to move between $ 400 and $ 500, without showing a strong momentum. Bitcoin struggled to exceed $ 12,000 and was extremely volatile in the $ 11,000 region
It is important to recognize that the price of bitcoin went from $ 8,500 to $ 11,500 last week, since February 27th. Since it dropped to $ 6,000, bitcoin has also almost doubled.
Sharmin Mossavar-Rahmani of Goldman Sachs said that bank analysts studying cryptocurrencies are in high demand because of growing interest in cryptocurrency from institutional investors and retailers.
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