TL;DR
- Bitcoin fluctuations: Bitcoin (BTC) saw volatility hovering between $35,000 and $38,000, influenced by the US SEC’s actions on crypto ETFs. Despite a recent decline, BTC has surged more than 120% since the start of the year.
- Ripple and XRP updates: Ripple is making progress in its SEC case, with significant partial legal victories. XRP has been relisted on CEX.io and other exchanges, maintaining its prominence in the crypto industry.
- Solana (SOL) price increase: Solana’s SOL saw a substantial rise, peaking at nearly $70, a monthly gain of 170%, fueled by the crypto market recovery and institutional interest, including the listing of SOL futures by Coinbase.
BTC price fluctuations
Bitcoin (BTC) has seen increased volatility in recent days, with its valuation hovering between $35,000 and $38,000. He reached peaked yesterday (November 16) following the latest delay from the US SEC on certain crypto ETFs.
Specifically, the US securities regulator deferred action on Grayscale’s application to introduce an Ether futures ETF and Hashdex’s intention to convert its existing Bitcoin futures ETF into a spot fund.
And while the leading digital asset and almost the entire market was flashing green, everything changed a few hours ago when BTC plunged 5% to around $35,500. It then managed to regain some ground, climbing to its current level of around $36,500 (according to CoinGecko data).
Despite considerable ups and downs, BTC has performed quite well since the start of the year. Its price surged more than 120%, with many experts predicting a further rise in the following months based on bullish factors such as the upcoming halving.
Those who are curious to check some of the top predictions coming from prominent personalities can do so in the dedicated video below:
What’s new around Ripple (XRP)
Ripple and its native token – XRP – remain a very trending topic in the crypto world, mainly due to the never-ending saga with the US SEC. More recently, Judge Analisa Torres together a timeline for discovery and briefing related to remedies. Both organizations are required to complete the necessary procedures before February 12, 2024.
Ripple appears to have the upper hand in the legal battle against its foe, having scored three partial legal victories so far. The big lawsuit between the entities in spring 2024 is expected to determine the outcome of the lawsuit and possibly resonate across the entire cryptocurrency space.
Besides the aforementioned update, XRP has been put back on sale on CEX.io, one of the oldest cryptocurrency exchanges. Many other trading platforms, including Kraken and Coinbase, have also added support for Ripple’s coin following the company’s successful campaign against the SEC.
SOL walks away after massive rally
Finally, we will discuss Solana’s native cryptocurrency – SOL – and its impressive price performance as of late. On November 16, it soared to almost $70, a level not seen since May 2022. The token saw a whopping 170% gain on a monthly basis before entering a correction over the past few hours.
Currently, SOL is worth around $60, and it will be interesting to see if the bulls will step in again and spark another uptrend for the asset in the following days.
Some of the main factors contributing to the coin’s rally might have been the recent green wave across the entire crypto market, growing interest from institutional investors, Coinbase’s decision to list SOL perpetual futures and others.
