Ripple’s XRP cryptocurrency and Stellar’s STR have held their ground during what has been a very turbulent start to 2015 for the crypto markets.
XRP is currently trading at 7,450 satoshi ($0.02), only 17% off all-time highs near 9,000 reached in mid-December. During this latest volatility, XRP dipped slightly below 7,000 and has recovered steadily back toward current levels. For most of the past three weeks, XRP has traded tightly around the 7,700 mark, so current prices remain nearly in line with this average despite the recent volatility. Some support has formed around the 7,000 mark, the level reached during XRP’s first retracement from all-time highs.
However, the lower bitcoin prices have caused its dollar-based valuation to shift lower. Currently worth $630 million, it has shed roughly a quarter of its market cap since its peak.
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Rival STR is actually trading higher, in bitcoin terms, than prior to the volatility. Currently at 1,790 satoshi ($0.0049), and earlier climbing as high as 1,850, it has surpassed the 1,750 consistently held during the three weeks prior. The latest volatility brought it down to 1,550, from which it has more than recovered.
Like XRP, the low point (1,500 satoshi) from its major retracement from the December peak is materializing into a support point.
The outperformance has partially offset the lower bitcoin prices, yielding a market cap of $17.7 million, ranking STR seventh among cryptocurrencies.