Crypto Market Generally Up On XRP’s Charge

Nov 06, 2018 at 21:53

The crypto market is generally in an upbeat mood, led by XRP’s more than 15 percent jump which is attributed to Ripple Labs’ latest pronouncement that it will be expanding in the Middle East with an intention to establish a local office in Dubai.

XRP, which swung back and forth to the second and third spot at the market cap placing, was trading at $0.55 while market cap reached $21.62 billion as of this writing.

On the other hand, the dominant Bitcoin only improved by 0.03 percent to $6,474.70 with a market cap of $111.7 billion.

Kevin Davitt, senior instructor at the Options Institute at CBOE Global Markets, said they saw record low volatility in the Bitcoin futures market in October.

“Last week, which ended on October 26, saw the least volatility yet with a 3 percent weekly high-to-low range… If we look at the weekly range over the course of October, it’s a mere 6.6 percent, which is far and away the lowest monthly average,” he explained during his weekly Bitcoin futures roundup video.

Meanwhile, Ethereum, Bitcoin Cash and EOS remained stable at $213.93, $565.24 and $5.66, respectively.

Likewise, Stellar, Litecoin and Cardano also experienced growth with their prices stable at $0.25, $54.30 and $0.08 a piece.

Among the top coins, Monero and Tether are the only cryptocurrencies that saw a downward trend, slightly dipping by 0.02 percent to $111.50 and 0.23 percent to $0.99, respectively.