Ripple, Stellar Take a Breather after Advancing to New 2014 Highs
Ripple's XRP and rival Stellar (STR) have finally taken a pause from their relentless rallies to new highs.
XRP had continued its hot streak last week, advancing toward new all-time highs last seen in September 2013. It traded as high as 9000 satoshi ($0.0279), coming within 18% of its record near 10,600.
It has since retraced by as much as 22% to below 7000, now trading at 7560. A sizeable retracement had been in order after a streak, since it added over 1800% from summer lows.
Rival Stellar retraced by as much as 33% from new record highs of 2800 satoshi ($0.0089). It has now stabilized near 1800. Within a 72-hour window last week, it had quadrupled its bitcoin-denominated value.
Now worth over $20 million, it has advanced to fifth spot of market cap rank, its highest position ever.
With both Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term, recent gains have by far outpaced declines in bitcoin--the denomination in which they are commonly traded--as evidenced by their increases in dollar-denominated value.
Ripple's XRP and rival Stellar (STR) have finally taken a pause from their relentless rallies to new highs.
XRP had continued its hot streak last week, advancing toward new all-time highs last seen in September 2013. It traded as high as 9000 satoshi ($0.0279), coming within 18% of its record near 10,600.
It has since retraced by as much as 22% to below 7000, now trading at 7560. A sizeable retracement had been in order after a streak, since it added over 1800% from summer lows.
Rival Stellar retraced by as much as 33% from new record highs of 2800 satoshi ($0.0089). It has now stabilized near 1800. Within a 72-hour window last week, it had quadrupled its bitcoin-denominated value.
Now worth over $20 million, it has advanced to fifth spot of market cap rank, its highest position ever.
With both Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term, recent gains have by far outpaced declines in bitcoin--the denomination in which they are commonly traded--as evidenced by their increases in dollar-denominated value.