xrp cryptocurrency price

XRP price soars 55% to ‘crucial’ level as Bitcoin notches new high at $38.5K

XRP price soars 55% to 'crucial' level as Bitcoin notches new high at $38.5K
Written by publisher team

Bitcoin (BTC) continued its January 7 habit of hitting all-time highs almost every day as bulls took the largest cryptocurrency above $38,000.

An overview of the cryptocurrency market. Source: Coin360

BTC price exceeds $38,500

Data from Cointelegraph Markets, Coin360 and TradingView followed the BTC/USD pair as it cleared another hurdle on its way to $40,000 USD.

On Thursday, gains accelerated, as bitcoin investors saw 24-hour returns of 11.5%. Just a week ago at the start of the year, Bitcoin was trading at $28,000.

BTC/USD 1-hour candlestick chart (Bitstamp). Source: TradingView

As reported by Cointelegraph, the largest cryptocurrency, along with Ether (ETH) and a handful of other cryptocurrencies are the best investment game of 2021, leaving even Tesla stocks far behind.

TSLA has been the winning bet for 2020 since the coronavirus crash in March, with Bitcoin also being defeated by Ether.

“The next correction will certainly be painful for all #FOMO buyers,” warned Michael van de Poppe, analyst at Cointelegraph Markets. Twitter Followers as Bitcoin reached another new record high of $38,510.

XRP Suddenly Comes Back From Death

Meanwhile, an intriguing renaissance has occurred in the cryptocurrency, which ranks fourth in the digital currency XRP.