Crypto Market This Week: BTC Continues To Soar, Ripple’s XRP Bullish

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As a seasoned analyst who has witnessed the cryptocurrency market’s rollercoaster ride over the past few years, I must say this week has been particularly exhilarating. The bullish sentiment across the sector, with Bitcoin (BTC) hitting a new all-time high and Ripple’s XRP garnering significant attention, is reminiscent of the early days of the internet boom.

As a crypto investor, I’ve just wrapped up another exhilarating week in the digital currency universe. The entire sector has seen some captivating advancements, with Bitcoin (BTC) leading the charge by reaching a new all-time high this past week. Meanwhile, Ripple‘s XRP has been generating quite a buzz, posting substantial growth. The market as a whole seems to be riding on investor optimism following the U.S. elections, which resulted in President Donald Trump securing another term.

Below, you’ll find a concise round-up of some key crypto market news stories from the last week that have noticeably influenced investor opinions.

BTC Hits New ATH Amid Bull Crypto Market

This week, the cost of Bitcoin reached an all-time high (ATH) close to $100,000, generating excitement throughout the market. Remarkably, Bitcoin increased by approximately 10% over the last seven days to attain an ATH of $99,655. This bullish trend following the U.S. elections has caught the attention of Robert Kiyosaki, author of Rich Dad Poor Dad, who made a daring forecast for its price – predicting it could reach $13 million in the future.

At the same time, the cryptocurrency experienced increased institutional investment as it surged upward, suggesting potential for even greater growth. In line with this rising market enthusiasm, biotech company Hoth Therapeutics decided to invest in Bitcoin, which fueled further optimism about the digital currency.

This week, Bitcoin miner MARA successfully completed a $1 billion private offering. Some of these funds will go towards purchasing additional Bitcoin. The leading cryptocurrency experienced strong buying interest this week, which could indicate a positive trajectory for future price trends.

Ripple’s XRP Steals Attention

Over the past week, XRP’s price surged by 40%, boosting investor confidence in a thriving digital asset market. Interestingly, large XRP holders, often referred to as whales, have amassed approximately $526 million of this token during the same period, suggesting that Ripple’s backed coin might continue its upward trend. Moreover, seasoned trader Peter Brandt foresees a potential parabolic surge for the cryptocurrency in the current bullish phase.

Additionally, Brad Garlinghouse, CEO of Ripple, expressed optimistic views regarding XRP and the potential resolution of the ongoing lawsuit with the SEC. This optimism seems to stem from the appointment of Scott Bessent as the new U.S. Treasury Secretary. Meanwhile, in the Ripple vs. SEC courtroom, both the SEC and FINRA have been attempting to introduce “digital asset securities” claims. This development occurs as XRP has surged to $1, with some predicting a possible jump to $2 when SEC Chair Gary Gensler steps down.

All in all, these market updates have ignited a high level of excitement among investors regarding the potential future developments in the cryptocurrency sector, as analysts remain hopeful about its prospects.

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2024-11-24 08:35