The cryptocurrency market has turned green today.
While Bitcoin is still around $8,000 at $8,155 with 24 hours gains of 1.93%, it’s XRP and TRX that are ruling the market today.
Just recently we shared how XRP bottomed against BTC and MACD crossover has turned bullish that could see it well above $0.50 and if the stars and charts align, the third-largest cryptocurrency’s moonshot could be $12.
Currently, XRP price is up over 9% and trading at $0.278.
However, the digital asset has a long way to cover as it is down over 46% in the past year and more than 90% since its all-time high.
Meanwhile, at Ripple,
“We believe #XRP is the most important, most effective means to bridge between boundaries.” @XpringDev VP of Engineering Doug Purdy shares how we’re enabling #developers to put money at the center of their applications. #UBRICon2019 pic.twitter.com/w2OU0FA3CX
— Ripple (@Ripple) October 4, 2019
As we reported XRP is preparing for a big week. The crypto asset has made a spectacular start of the week and the Morgan Creek Capita’s Anthony Pompliano’s interview with Ripple CEO Brad Garlighouse has yet to drop.
Another cryptocurrency leading the gains is TRX which is up 6.64% at $0.0158, as per Coincodex.
The greens came while John McAfee announced the beta release of its Ethereum-based decentralized exchange, Mcafeedex.
However, this isn’t the first time that XRP and TRX are in the lead, so what could this mean?
According to Mati Greenspan, senior analyst at eToro, “All of crypto is still very correlated.”
Though “it's nice to see these two outpacing on a short time frame,” he said,
“the entire market has dropped significantly from the peak and it could take some time to claw that back.”
Apart from these crypto assets, with 6% gains EOS and over 5% gains Stellar and Bitcoin Cash is also enjoying this upward movement in price.
Most traders concur that bitcoin is king and with its liquidity, it makes sense to only trade Bitcoin.
Bitcoin has far too many variables to make it an easier coin to trade.
— Jacob Canfield (@JacobCanfield) October 6, 2019
However, none of these cryptos is today’s winner. It’s Chainlink (Link).
This crypto-asset started climbing up on Sept. 27 when it was around $1.59 and with over 14% gains in the past 24 hours trading at $2.47, it is at the top, as per the data provided by Coincodex.
Unlike other cryptocurrencies, LINK is actually up a whopping 44% in the past 7-days and 637% in the past year.
It is no doubt, the hottest crypto yet again.