Bitcoin races to 3-month high, XRP gains 10% [Video]

Eliman Dambell Sayvio AI

Prices of Cryptocurrencies continued to climb after this weekend’s rally, with Bitcoin racing to a 3-month high to start the week.

BTCUSD hit an intraday high of $52,226 on Monday, which was its highest level since May 13th earlier this year.

The surge in Bitcoin comes as Ripple also rallied, with the altcoin rising by as much as 10% today.

XRPUSD traded as high as 1.3950, pushing Ripple’s market cap to $64.4 billion, which is the equivalent of 2.73% of the cryptocurrency market valuation.

As of writing, ETHUSD was also nearing the $4,000 level, and was trading at $3,937.

GBPUSD drops as UK car sales slow

After three days of gains, GBPUSD fell in today’s trading session, as data from the UK showed a slowdown in new car sales.

Figures from the Society of Motor Manufacturers and Traders reported that new car registrations were down 20% in August, verus the same period last year.

This news sent GBPUSD to an intraday low of 1.3818, as rates failed to break out of the key resistance level of 1.3895.

EURGBP also moved, falling to the floor of 0.8564 on Monday, however many now wait to see how markets will react once the U.S. markets reopen on Tuesday.

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Author

Eliman Dambell

Sayvio AI

With over a decade in financial markets, Eliman brings an experienced and diversified point of view to market analysis. He covers current and historical macro trends to give insights on Metals, FX, Stocks, and Crypto.

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