Bitcoin BTC/USD and ether ETH/USD ended the week in the red, but some cryptocurrencies managed to weather the market slump caused by the US Federal Reserve’s rate hike on Wednesday and post significant gains.
XRP XRP/USD surged over 27.26% to $0.4926 for the week ended September 25, overshadowing Bitcoin, which fell 3.18% to end the week at $18,802.10, and Ethereum, which was down around 3.08 % fell to $1,294.22.
See also: How to buy Ripple’s XRP (XRP)
Others are among the top 100 cryptocurrencies by market cap, posting double-digit gains rights reserved RSR/USD, connection COMP/USD, Algorand SOME/USD, IOTA MIOTA/USD and Crowd QNT/USD.
Dogecoins DOGE/USD ended the week 6.3% higher at $0.06115.
What caused XRP to surge? XRP, the native cryptocurrency of the ripple Payments log, rose significantly last week on US related news Securities and Exchange Commission‘s lawsuit against Ripple Labs Inc.
Both the SEC and Ripple — the company behind the XRP cryptocurrency — filed motions for summary judgment in the Southern District of New York, CoinDesk reported, based on documents posted in a federal court database on Friday. Each of the two parties urged the judge involved to rule in their favor and dismiss the lawsuit, which dates back to December 2020, before trial.
Continue reading: Bitcoin, Ethereum, Dogecoin Subdued: Why This Analyst Says Volatility “will Happen” Next Week
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