Bitcoin, Ethereum and Ripple spike in crypto resurgence
The world’s top three cryptocurrencies have fallen back on Monday after rapid spikes over the weekend.
However Bitcoin, Ethereum and Ripple are all trading at far higher levels than this time last week.
Bitcoin is trading at $6,597 at the time of writing compared with $6,219 a week ago and a low of $6,117 on Wednesday.
A rapid spike on Friday saw it eventually hit a high of $6,793 on Saturday – the first time it has been above $6,700 in two weeks – before falling back a little.
The upward trend came as US regulator the Securities and Exchange Commission postponed its decision on whether to approve a proposed Bitcoin exchange-traded fund.
Ethereum meanwhile fell as low as $196 on Tuesday but is now at $234 having hit $248 on Saturday – a remarkable turnaround.
However even that paled into insignificance with the performance of Ripple. Its XRP token more than doubled in value from Monday to Friday – from 27 cents to 65c – and it currently as 53c.