Ah! Cryptocurrency. Will you ever cease to amaze investors with your volatility? When it’s bad, it can be very, very bad. But when it’s good… well, it’s confusing! Sometimes there is no real reason to see cryptos in green.
Across the top ten today most coins are in the green. But why? There has been no major news or catalyst to spur on such bullish behavior.
In the top five, Ripple (available on Binance) (XRP) and Cardano (ADA) are leading cryptos in green, currently sporting a 4.38% and 3.78% gain respectively. So let’s see why investors are jumping for joy on these coins right now.
Cryptos in Green: Ripple (available on Binance) (XRP)
Ripple (available on Binance) did have some news which could account for the market leap. (Does this coin really have the power to pull the rest of the market along with it though?) Ripple (available on Binance) announced yesterday that Ripple (available on Binance) Labs’ xRapid project could debut in the next month, or so, and price climbed a whopping 20% in response.
So are today’s gains an extension of bullish sentiment from this exciting news? Perhaps.
Source: CoinMarketCapIt’s clear when looking at Coinmarketcap.com that Ripple (available on Binance) is seeing a surge again since dropping in early September. Will it continue?
The only ‘story’ which may explain Cardano’s increase is Founder Charles Hoskinson’s recent visit to Mongolia. The coin’s founder told how he recently visited the country to discuss introducing blockchain technology to its government and business sectors.
Source: CoinMarketCap