The price of Bitcoin rose to the level of $40100. Ethereum reached the resistance of $2,300, and XRP - 70 cents. The total capitalization of the digital currency market was $1.55 trillion.
The XRP token issued by Ripple rose by 17% and reached 75 cents at the moment. The market capitalization of the coin exceeded $ 34 billion. This happened after Ripple announced a new money route between Japan and the Philippines, which will make the transfer of funds between the countries cheaper and faster. To organize transfers, Ripple has entered into partnership agreements with a number of companies that will now use the Ripple ODL platform to make money transfers between Japan and the Philippines. Now in the United States there is a trial against Ripple. At the end of 2020, the Securities and Exchange Commission accused the company of selling unregistered securities worth $ 1.3 billion under the guise of XRP tokens, after which the price of the coin sank sharply.
The demand for Ethereum in transactions with cryptocurrencies grew almost three times faster than the same indicator of bitcoin in the first half of this year. Such data is provided by the Coinbase exchange in its report, linking the observed dynamics with the desire of large investors to diversify. The volume of Ethereum trading for the period from the beginning of January to the end of June amounted to $ 1.4 trillion, which corresponds to an increase of 1,461% compared to the second half of 2020. Bitcoin trading volumes have increased by 489% over the same time. In addition, Ethereum surpassed bitcoin, the S&P 500 index and gold in terms of investment returns, rising by 210% in the six months to June 30. Other instruments increased by 20%, 14% and 6.7%, respectively. As the main reasons for the interest in Ethereum, exchange analysts also call the development of the decentralized finance sector, optimism about the upcoming transition to the Proof-of-Stake consensus mechanism and a decrease in the supply of cryptocurrency due to the activation of an update that will allow burning part of the commissions paid as commissions.
In our forecast, we expect Bitcoin to decline to the levels of $40,000, $39700 and $39500. Ethereum will fall to the levels of 2250, 2200 and 2100 dollars, and XRP - to the price values of 68, 65 and 62 cents.