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XRP surges by 5.7% in an hour after BTC pumps and Bakkt announces Bitcoin Futures launch date

Arijit Sarkar



The crypto-ecosystem regained its momentum following Bitcoin’s [BTC] stellar performance in bringing the market back form the dead. After weeks of sideways movement, XRP has finally come to the bull party, recording a growth of almost 6% over an hour.

XRP’s first gains in this cycle were registered on 10 May, when it traded at $0.29 after BTC breached the $7000 mark. BTC’s market confidence later helped the 3rd largest crypto to take its value up to $0.32, an increase of 10.34% in 3 days.

Coming as a surprise to XRP investors and the entire cryptoverse, the altcoin further recorded a surge of almost 6% within an hour, increasing the coin’s market cap from $13.6 billion to $16.1 billion, at press time.

While some industry experts believe XRP’s comeback to be an immediate effect of a BTC friendly market, others  speculate it to be an effect of Bakkt’s announcement to launch Bitcoin [BTC] futures.

Source: TradingView

Along with XRP, numerous other altcoins such as Ethereum [ETH] and Stellar Lumens [XLM], also rode the bullish wave as several coins maintained a steady trajectory towards value recovery. With BTC briefly breaching the $8000 mark, before falling again, crypto-enthusiasts are expecting many more price surges in the near future.

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