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On Friday, Bitcoin as well as key crypto assets managed to ascend, thus finding themselves on track for back-to-back winning trading marathons.
Having trended lower for most of the trading week, the world’s number one crypto asset, Bitcoin has finally abandoned its short-term trading band, grasping a two-week maximum of $6,769.35. The currency pair BTC/USD hit $6,714.53 on the Kraken exchange, adding 5.3%.
Market experts at FX Pro told that a number of material projects had emitted optimism among crypto enthusiasts. Several factors contributed to this surge. Ripple’s CEO dropped a hint about the launch of a fresh product built around xRapid’s XRP coin already in October. What’s more, the representative told that users will be able to access the biggest Asian cash remittance market. Those residing in Malaysia, Vietnam, Sri-Lanka, and Indonesia will be able to access it.
The broad-based surge contributed $25 billion to the value of all crypto assets on Friday. As a matter of fact, it currently accounts for $227 billion.
The crypto asset, running on the Ripple protocol, managed to leap, demonstrating a 75% jump. Buoyed by upbeat mood as for the xRapid product, which is expected to drastically improve cross-boarder payments for banks, XRP climbed up to an intraday maximum of 78 cents.
XRP has managed to replace Ethereum as the number two crypto asset. In early afternoon trade, the currency pair XRP/USD ended up with 57 cents, adding up to 40.4% on the day.
The currency pair ETH/USD tacked on by 9.5% being worth $228.42. As for BCH/USD, this currency pair inched up by 12.7% demonstrating an outcome of $481.80. The currency pair LTC/USD added 7.2% being worth $57.87.
October delivery futures XBTV8 went up by 4.5% being worth $6,690. September delivery BTCU8 futures ascended by 4.8% ending up with $6,710.
During the daily press briefing of Andres Manuel Lopez Obrador, it was announced that Mexico will receive 1.4 million doses of the vaccine by the end of January. Is that optimistic enough for the peso?
The US unemployment claims are announced on Thursday at 15:30 MT time.
The Canadian monthly GDP is announced on Wednesday at 15:30 MT time.
The European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time.
Joe Biden is going to unveil a Covid-19 relief package of about $2 trillion. After this announcement, the 10-year Treasury yield rose, adding support for the USD.
The US dollar’s weakness offered a boost to emerging-market currencies and oil.
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