Bitcoin (BTC) has finally broken through the resistance after hovering for a long time around the $60K levels. The asset rose past $62,300 and reached a new all-time peak. BTC is now trading at $62,660, with a market capitalization of $1.173 trillion according to CoinMarketCap.
Bitcoin price has risen as a result of increased whale trading and a steady decrease in the availability of the crypto asset in the market. As market players continue to transfer their portfolios to cold wallets, Bitcoin liquidity on exchanges has been steadily declining. On the other hand, BTC miners are not willing to part with their stocks preferring to HODL in the hope that its value would keep increasing.
XRP Reaches new ATH
XRP has been on a roller coaster in this crypto bull season with its value dropping to as low as $0.1748 in January after the SEC filed a complaint against Ripple, which was followed by the delisting of the asset by several crypto exchanges in the United States.
A month later, the token’s price had returned to pre-lawsuit values and as lately enjoyed some level of success. Currently, the asset is well positioned to challenge its previous ATH of $3.86, as its volume has already exceeded the 2017 volumes.
The meteoric rise in its value has been tied to the victories its parent company, Ripple, has been enjoying in the courts against the SEC. This morning, we reported that the firm’s CEO, Brad Garlinghouse, was preparing to file a motion to dismiss the lawsuit against him and the first crypto company.