Stellar Lumens traders can certainly breathe a sigh of relief today, although Ripple is the one sitting on the throne today with a respectable rise reminiscent of the bull raids of the second half of last year.
The rise of Ripple exceeds 90% from yesterday afternoon levels, reaching second place in the ranking by capitalization with over 28 billion dollars, surpassing Ethereum which remained just above $23 billion. In just 4 days XRP tripled its value from $0.26 to over $0.79.
This rise pays off in a few hours the suffering of Ripple fans accused over the past four months. Only 9 days ago, Wednesday, September 12, prices were back close to the threshold of the annual low, just below 25 cents.
What is happening at this time seems like a photocopy of the movements recorded last December. But at that time the rises also involved other cryptocurrencies. The rest of the industry remains positive but the rises aren’t as significant.
Stellar Lumens (XLM) stands out and tries to keep up, even if with a lower intensity. Today Stellar’s rise stops at +30% from yesterday afternoon’s levels which, added to last week’s performance, goes over 50%, close to the $28 cents.
Ripple Foundation executive, Sagar Sarbhai, during a recent CNBC interview, announced that the update on the next XRapid protocol is expected by the end of October. XRP wants to become the most widely used means of payment in the financial system.
It should be noted that the Ripple Foundation has announced agreements with more than 120 financial institutions worldwide to allow the adoption of its payment systems, thus ensuring quick transactions between different national currencies worldwide.
Among the main partnerships, there is Santander, American Express, Western Union, MoneyGram, Viamericas, MercuryFX.
The total capitalization reaches over 225 billion dollars, with the bitcoin market share falling below 51%, highlighting the return of attention to the other altcoins. The attention is on Ripple which returns over 11% of market share, levels reached during its all-time high.
The SEC’s decision to postpone the VanEck-SolidX ETF decision again by 29 December does not adversely affect investor sentiment as it did in the past. The breaking of the resistance of September in the 6550 dollars area, in a few hours pushes prices over 6700, where prices begin to try to create a support. In the short term, the structure is bullish, while for the medium term it is necessary to reach 7000 dollars in the coming days. A return below 6400 dollars would cancel the rise of these last hours.
The consolidation of prices above the threshold of 200 dollars, pulls the prices close to 230 dollars, in contact with the upper neckline of the bearish channel drawn on the graph that now has been around for over 3 months. The difficult period for Ethereum continues.
Being able to maintain the safety distance from the lows recorded last week (area $167), the lowest level in the last 14 months, is a first positive sign that would find further confirmation with prices over 250 dollars in the coming days.