Cryptocurrency market update: Ripple spikes up the market as deadly Bitcoin Core bug is fixed; Ethereum back in the red


  • “At a minimum, regulation should address consumer protection and anti-money laundering,” Nicky Morgan.
  • Bitcoin Core bug and other related blockchains have been fixed but node operators must upgrade to the latest release.
  • Ethereum and Ripple are trimming gains in the wake of the brief bull rally.

The cryptocurrency market is sending mixed red and green signals on Wednesday. This comes after the Ripple (XRP) driven brief rally but we will come to that a bit later. The United Kingdom legislators are calling for the regulation of what they are terming the crypto market “wild west.” The lawmakers reckon that regulating cryptocurrencies is likely to elevate the nation to be a “global center for crypto-assets.” They said in a report published by the British Parliament’s Treasury Committee on Wednesday 18 that time has passed for the government to continue issuing “feeble warnings”. The report also says that investors in the industry are “afforded very little protection.” Treasury Committee chair Nicky Morgan said:

“It’s unsustainable for the Government and regulators to bumble along issuing feeble warnings to potential investors, yet refrain from acting…At a minimum, regulation should address consumer protection and anti-money laundering.”

Ripple price sudden spike

Ripple led the market in an unexpected brief bull run on Tuesday as the investors took the bait that the payment solution provider network was going to launch its much-awaited xRapid solution in one month. Ripple price surged from the short-term support $0.27 and blasted through the stubborn resistance at $0.30. XRP/USD added over 20% in a day to trade highs of $0.3350. At the time of writing slight lower corrections are underway with Ripple seeking balance above $0.31.

Bitcoin Core bug fixed

The latest news in the market is that a deadly bug that could have resulted in the entire Bitcoin Core network crash has been fixed. Moreover, other Bitcoin forks like Litecoin (LTC) and Bitcoin Cash (ABC) would have been affected as well. Therefore, all the people who operate nodes have been called upon to make the upgrade as promptly as possible. There is a new Bitcoin Core release as well as Bitcoin ABC for BCH. Interestingly, Bitcoin Unlimited remained unaffected but Litecoin has produced a merged fix.

Read more on Bitcoin price analysis here.

Ethereum price technical picture

Ethereum recovered during the widespread bullish momentum yesterday. It used the support at $190 and corrected above $200. However, it came to a halt on brushing shoulders with $215. At the moment, ETH is trading between the support and resistance of the simple moving average as discussed in an earlier published analysis. The support at $200 must be kept to ensure that movements towards $190.

Read more on Ethereum price analysis here.

 

 


Get 24/7 Crypto updates in our social media channels: Give us a follow at @FXSCrypto and our FXStreet Crypto Trading Telegram channel

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News


Latest Crypto News & Analysis

Editors’ Picks

Bitcoin Price Forecast: BTC/USD faces strong resistance at $11,550

BTC/USD bears eked out an advantage this Tuesday, following a bullish Monday. The price has gone down from $11,235.08 to $11,209 over the day. The daily confluence detector has one strong resistance and support level at $11,550 ...

More Bitcoin News

Ripple Price Prediction: XRP/USD drops below the $0.30 level

XRP/USD bears remained in control for the second straight day, dropping from $0.3014 to $0.2987. The daily confluence detector has one strong resistance level at $0.3215, which has the one-day Previous High and one-month Pivot Point resistance-two.

More Ripple News

ETC/USD faces stiff resistance at $7.35

Ethereum Classic (ETC) settled in a range above $7.00 after wild price swings on the weekend. At the time of writing, ETC/USD is changing hands at $7.20, mostly unchanged both on a day-to-day basis and since the beginning of Tuesday. 

More Ethereum Classic News

ADA/USD bulls remain in control as price goes up

Cardano successfully launched the Shelley hard fork a few days back and it currently has >620 active stake pools. These pools have a total of 2.74 billion ADA committed to staking. According to ...

More Cardano News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: Fasten your seatbelts, next stop is $12,000

Bitcoin has had its best week since mid-2019. The first digital currency gained over 18% in a single week and hit the new highest level of 2020. At the time of writing, BTC/USD is changing hands at $11,358 and the upside momentum is gaining traction as Bitcoin bulls are pushing at the upper line of the weekly Bollinger Band. 

Read the weekly forecast

BTC

ETH

XRP