Ripple Price Up 10.43% in Quiet Crypto Markets - Money Morning

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Ripple (XRP) is the big mover today, as the general crypto market remains steady in a holding pattern.

Only ripple is standing out amongst the top crypto’s.

From a trading perspective, it looks like it could break out of a month long-price range.

Source: Poloniex

This chart shows the price of ripple against bitcoin (BTC).

Ripple is currently the third largest cryptocurrency in terms of market capitalisation, but is still a long way behind market heavy weights bitcoin and ethereum (ETH).

As far as I can tell, there’s nothing of note to explain the ripple price movement. Though this month, ripple is to host ‘Swell’ — an event aimed at bringing the world’s financial leaders together to network and discuss trends and strategies.

Swell will go head-to-head with ‘Sibos’, Swift’s annual banking and financial conference scheduled for October 16–19 in Toronto, Canada.

This is probably very intentional, as ripple is trying to replace the Swift system of international money transfer.

Latest cryptocurrency prices

Here’s a snapshot of the leading crypto’s (priced in AUD) as at 1pm AEST.

Bitcoin Price: $5,428, -1.512%

Ripple Price: $0.2875, +10.43%

Ethereum Price: $375, +0.19%

Zcash Price: $301, -5.04%

MaidSafeCoin Price: $0.57, -4.93%

Dash Price: $385.82, +0.75%

With interest growing around the world, there has never been a better time to learn more about cryptocurrency’s incredible potential. But there’s some very real risks for investors. Don’t invest until you’ve read Sam Volkering’s free report here

Regards,

Ryan Dinse,
Editor, Money Morning

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Ryan Dinse

Ryan Dinse is an Editor at Money Morning.

He has worked in finance and investing for the past two decades as a financial planner, senior credit analyst, equity trader and fintech entrepreneur.

With an academic background in economics, he believes that the key to making good investments is investing appropriately at each stage of the economic cycle.

Different market conditions provide different opportunities. Ryan combines fundamental, technical and economic analysis with the goal of making sure you are in the right investments at the right time.

Ryan's premium publications include:

Money Morning Australia