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Ripple, Stellar Take a Breather after Advancing to New 2014 Highs

Sunday, 21/12/2014 | 14:21 GMT by Leon Pick
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.

At its peak, Ripple's XRP had a total valuation of over $860 million, one-fifth that of Bitcoin .

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 , 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.

At its peak, Ripple's XRP had a total valuation of over $860 million, one-fifth that of Bitcoin .

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 , 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.

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