Bitcoin Price Hovers Above $8,000 While XRP Jumps 5% on the Day

Clark Hanny
Oct 19 · 3 min read

Thursday, Oct. 17 — Bitcoin (BTC) is hovering just above the $8,000 price mark, while XRP shows impressive gains on the day.

Cryptocurrency market daily overview. Source: Coin360

For most of the day, the world’s largest cryptocurrency has been trading within a tight range between $8,000 and $8,100. BTC traded from an intraday low of around $8,010 up to $8,135 before hitting its current trading price of $8,062, showing a subtle gain of around 1% in the past 24 hours.

Cointelegraph reported today that notorious crypto skeptic Nouriel Roubini had finally conceded to saying that Bitcoin is “a partial store of value.” However, his comment was swiftly followed by continued criticisms:

“Maybe Bitcoin is a partial store of value but it’s not a unit of account, it’s not a means of payment, it’s not scalable […] in spite of its rally earlier this year, it’s lost 60% in value since its peak, so I don’t see it going anywhere frankly.”

Bitcoin 7-day price chart. Source: Coin360

Ether (ETH), meanwhile, is currently sitting at $176 per coin. The number one altcoin has been trading fairly flat for most part of the day, while slowly crawling to its current trading price, up just over 1% at press time.

Ether 7-day price chart. Source: Coin360

XRP, on the other hand, saw a 5% jump on the day. The third-largest coin by market cap is currently putting in a strong performance and is grinding its way up to the $0.30 price point. XRP is now trading at almost $0.30 per coin.

XRP 7-day price chart. Source: Coin360

It is a green top-20 day

All of the top-20 coins are showing positive gains between 1–4% in the past 24 hours, with XRP taking the lead as top performer of the day, as mentioned above.

While not in the top-20 tokens by market capitalization, the number 25 crypto coin NEM (XEM) has seen impressive gains of almost 14% over the past 24 hours to trade at $0.041 at press time.

The overall cryptocurrency market cap increased from $217.2 billion to $222.2 billion, with Bitcoin making up 66% of the total.

Clark Hanny

Written by

#crypto #cryptotrader

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