Here is a brief summary of some of the most noteworthy crypto market updates reported by CoinGape Media over the past week.
The world of cryptocurrency has concluded another week, primarily marked by fascinating developments across the industry. Bitcoin (BTC) continues to rise, reaching new highs this week. Meanwhile, Ripple's XRP has garnered significant attention in the market, recording substantial gains. The broader market continues to leverage investor optimism following Donald Trump's re-election as President of the United States.
Here is a brief summary of some cryptocurrency market headlines that had a significant impact on investor sentiment over the past seven days.
BTC reaches new highs in the cryptocurrency bull market
This week, Bitcoin's price reached a new high of around $100,000, reflecting the heated discussions in the entire industry. Notably, this flagship token has risen by about 10% in the past week, hitting an all-time high of $99,655. Due to this bullish trend after the U.S. elections, Robert Kiyosaki, author of Rich Dad Poor Dad, made a bold prediction for this token, expecting its price to reach $13 million.
Meanwhile, amid the bullish trend in cryptocurrency, institutional investor interest is also increasing, highlighting its potential for further growth. As market interest heats up, biopharmaceutical company Hoth Therapeutics has advanced its BTC purchase plan, leading to more optimism around cryptocurrency.
Meanwhile, Bitcoin miner MARA completed a $1 billion private placement this week, with part of the proceeds being used to purchase more BTC. Overall, this flagship token has faced significant buying pressure this week, paving the way for a bullish trend in the future.
Ripple's XRP has attracted attention
On the other hand, XRP's price has risen by 40% in the past week, solidifying investor optimism against the backdrop of a bullish outlook in the digital asset industry. Notably, XRP whales have accumulated tokens worth nearly $526 million this week, indicating that this Ripple-supported token may rise further. Veteran trader Peter Brandt predicts that a parabolic rebound in cryptocurrency is imminent in this bullish trend.
Furthermore, Ripple CEO Brad Garlinghouse expressed bullish sentiment toward XRP, stating that the SEC lawsuit may come to an end, largely thanks to the new U.S. Treasury Secretary Scott Bessent. Meanwhile, in the lawsuit between Ripple and the SEC, regulators and FINRA are attempting to claim 'digital asset securities.' This move comes against the backdrop of XRP rising to $1, with speculation that the target price for XRP will reach $2 after SEC Chair Gary Gensler steps down.
Overall, these market updates have sparked investor enthusiasm for future actions in the crypto space, and market observers remain optimistic.
