Posted in: Archive
January 12, 2018 3:51 PM

Ripple Price Earns MoneyGram Bounce as Market Recovers from Mid-Week Dip

The cryptocurrency markets achieved a near-comprehensive advance on Friday, bolstered by several reports that South Korea was not currently seeking a blanket ban on cryptocurrency trading. The ripple price headlined the day after MoneyGram revealed that it would adopt XRP in an open-ended pilot, while every other top 15-coin or token rose against the dollar as well.

These rallies combined to lift the cryptocurrency market cap by nearly $40 billion, from $673 billion on Thursday to $712 billion today — a 24-hour increase of six percent.

Source: CoinMarketCap

Bitcoin Price Flirts with $14,000

The bitcoin price rose about three percent for the day, bringing it close to $14,000 on all major exchanges. On Bitfinex, the bitcoin price briefly surpassed that mark this morning but had subsided to $13,852 by the time of writing, although the flagship cryptocurrency’s global average held at $14,180 due to higher premiums on Binance and bitFlyer. This provides bitcoin with a $238.2 billion market cap.

Bitcoin Price Chart

The moderate rally was spurred by reports that — contrary to suggestions in an earlier statement from South Korea’s Ministry of Justice — the government’s cryptocurrency task force had not decided to ban cryptocurrency trading in the country.

Ethereum Price Inches Past $1,200

The ethereum price also posted a three percent increase, enabling it to inch back above the $1,200 barrier on Bitfinex and other major exchanges. At present, the global average ethereum price is trading at $1,240, which translates into $120.3 billion market cap.

Ethereum Price Chart

Ripple Price Soars on MoneyGram Bounce

Neither bitcoin or ethereum could match the performance of ripple, however. The third-ranked cryptocurrency soared by 18 percent after money transfer service MoneyGram announced that it would adopt XRP in an open-ended blockchain payments trial. At present, the ripple price is valued at just below $2 on Bittrex, while its global average is $2.06. This gives ripple a circulating market cap of $79.6 billion.

Ripple Price Chart

EOS and Stellar Lead the Pack

The majority of top 100-ranked altcoins rose against the dollar on Friday, but EOS and stellar returned what were far and away the best single-day performances.

The bitcoin cash price rose by four percent to $2,556, while fifth-ranked cardano increased by eight percent to $0.73. EOS, meanwhile, exploded by 48 percent after the company teased that it will livestream an announcement from Seoul on Saturday.

Litecoin, ranked seventh, rose by four percent to $239, and NEM added eight percent to crack the $12 billion market cap threshold.

Next to EOS, the stellar price posted the best performance among top 10-cryptocurrencies, rising 36 percent after CNBC contributor Brian Kelly told viewers that it could be the “next coin to surge.”

IOTA rounded out the top 10 with a six percent increase to $3.60, which raised the token’s market cap to just above $10 billion.

Featured image from Shutterstock.

Last modified: May 20, 2020 9:11 PM

Josiah Wilmoth @Y3llowb1ackbird

Josiah is the US Editor at, where he focuses on financial markets. He has written over 2,000 articles since joining in 2014. His work has also been featured on ZeroHedge, Yahoo Finance, and He lives in rural Virginia. Connect with him on LinkedIn or email him directly at josiah.wilmoth(at)