Ripple (XRP) Retakes Third Place After 7% Daily Rise, Bitcoin (BTC) Closes to $108,000 (Market Watch)

Bitcoin is back in price discovery mode as it continues to hit new all-time highs on a daily basis, with the last few hours just below $108,000.

Many altcoins have followed suit, including XRP, XLM, and CRO. In the case of Ripple, the asset managed to surpass USDT in terms of market cap once again.

BTC keeps pumping

It was just a week ago that the major cryptocurrency struggled to maintain its momentum and was pushed hard south on a couple of occasions to $94,400. However, the bulls managed to defend this level and started a rally that took the asset to $98,000 on Thursday and beyond $100,000 on Friday.

Since then, BTC has mostly traded in six-digit territory. It also surpassed its early December all-time high of $103,800 on Monday, breaking above $106,000.

After a brief retreat in the afternoon, the cryptocurrency went on the offensive in the evening, and especially during the Asian trading session on Tuesday morning, when it exploded to $107,800 to mark its latest peak.

Despite losing some ground since then, BTC is still above $107,000. Its market cap has soared well above $2.1 trillion, and its hold on the highs has grown to nearly 54% in CG.

Bitcoin/Price/Chart 12/17/2024. Source: TradingView XRP on the rise

Perhaps the biggest news in the cryptocurrency industry yesterday came from Ripple, as the company said its stablecoin has been approved and is ready to roll out today, December 17. This sent the other native token, XRP, soaring immediately as it broke below $2.37. to a multi-day high of nearly $2.6 today. In addition, XRP has regained the third place in terms of market capitalization surpassing USDT.

XLM and CRO are the other notable gainers for larger-cap alternatives, rising 9% and 7%, respectively. ETH is back above $4000 after a small daily increase, similar to SOL, BNB, ADA and AVAX.

In contrast, TON and LINK have retreated by around 4% each.

The total crypto market capitalization has gained another $90 billion in one day and is at an all-time high of nearly $3.950 trillion.

Cryptocurrency Market Overview. Source: QuantifyCrypto SPECIAL OFFER (Sponsored) Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive an exclusive welcome offer of $600 to Binance (full details).

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