The crypto sectors’ eyes were mainly on Bitcoin on Dec. 16, as it smashed records and broke $21,000. But it was also a very good day for XRP, which jumped 24% in just 24 hours after a very long, very bad week, making up almost all of the steep losses it saw in the wake of the Flare Network’s Spark token airdrop on Dec. 12.
Bitcoin is now in unchartered territory, and prices have never been this high. But this bull run is different. Institutions are pumping hundreds of millions of dollars into the world’s biggest cryptocurrency—and there’s no sign of this appetite abating. You could argue that the biggest danger to BTC’s dramatic surge is the holiday season, when some traders will start logging off for Christmas and New Years. As weekends often spark volatility in the Bitcoin markets, the low trading volumes mean first cryptocurrency is prone to dramatic surges and painful pullbacks.
The cryptocurrency sector has a language problem. As razor sharp as Ryan Selkis’ analysis may be, it’s quite a sweary read. The word “shit” appears nine times, while “fuck” also gets nine mentions throughout the document. As razor sharp as Ryan Selkis’ analysis may be, it’s quite a sweary read.
Unfortunately for the world’s third-largest cryptocurrency, the Dec. 12 event proved to be a big drag on XRP, taking it down about 9% from its price of $0.55 the day before.
