CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • Fund
  • Buy
  • Language
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • Bitcoin Price Analysis
  • CryptoPotato Crypto Fund
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • bitcoin
    BTC$50,175.00
  • ethereum
    ETH$1,717.89
    • Market Updates
    • BTC Analysis
    • ETH Analysis
    • XRP Analysis
    • Interviews
    Home » Market Updates » Bitcoin Sets ATH at $26K as Ripple Is In Trouble: The Crypto Weekly Market Update

    Bitcoin Sets ATH at $26K as Ripple Is In Trouble: The Crypto Weekly Market Update

    Author: George Georgiev

    Last Updated Dec 26, 2020 @ 19:31

    The past seven days were particularly tumultuous for the cryptocurrency market. The week leading up to Christmas saw massive volatility across the board, and this time, it wasn’t Bitcoin in the spotlight.

    Nevertheless, the primary cryptocurrency started the week by gaining about $1,500, but it was on Monday when things took a turn for the worse. BTC dropped by more than $2,000, reaching a dollar value of about $22,000. From there, however, it managed to rebound.

    Yesterday, bitcoin’s price seemed a bit indecisive, but things changed quickly as it set a new high above $25,000. And if someone thought the run was over – they were wrong. Today, the cryptocurrency did yet another leg up and broke $26,000 on Binance, setting a brand new all-time high.

    The week, however, will go down in history because of a landmark lawsuit filed by the United States Securities and Exchange Commission. The watchdog has its sights on one of the largest companies in the field – Ripple.

    A few days ago, the SEC pressed formal charges against Ripple, alleging that it has conducted an unregistered securities offering of $1.3 billion. The price for XRP reacted immediately with a disastrous drop of more than 65%. As CryptoPotato reported, some exchanges took immediate action and unlisted the cryptocurrency.

    Alicia Bakery
    CMO - A really good agency

    Did you like this market update?
    This is all you need not to miss any price action in the raging crypto markets. Start receiving this recap, for free, every day:

    Invalid email address
    Your privacy is guranteed.
    Thanks for subscribing, you will get your first report in the next hours!

    Since then, XRP has managed to recover a bit, but it still has a long way to go. This also took a lot of altcoins with it as most of them saw substantial double-digit losses over the past couple of days.

    The Christmas day, however, brought hope to many as most altcoins managed to regroup and recover, with Ethereum (ETH) price climbing back above the coveted $600 mark. In any case, it’s very interesting to see how the market will develop from here as it’s obvious that the SEC isn’t afraid of going after the largest players in the field.

    Elsewhere, Ledger experienced a massive leak of personal information as the users’ database was dumped online. The company issued a few statements trying to somewhat remedy the situation, but the damage is done. This highlights the challenges that the industry is facing.

    Market Data

    Market Cap: $687B | 24H Vol: 178B | BTC Dominance: 69.3%

    BTC: $25,646 (+7.40%) | ETH: $641 (-3.19%) | XRP: $0.304 (-48.54%)

    final

    6 Reasons For The Ongoing Bitcoin Bull-Run Beyond $20K. This year has been quite challenging, to say the least. However, despite all the hardship, Bitcoin’s performance is more than stellar. Here are six reasons for which the cryptocurrency continues to rally above the $20,000 mark.

    SEC Charges Ripple With $1.3 Billion Unregistered Security Offering. The United States Securities and Exchange Commission has pressed formal charges against Ripple. The watchdog alleges that the company has conducted a $1.3 billion unregistered securities offering.

    Max Keiser: SEC Will Target Other ‘Garbage’ Altcoins After Ripple. Popular Bitcoin proponent Max Keiser thinks that the SEC will not stop with Ripple in its pursuit of companies who failed to abide by the securities regulations. He thinks that other altcoins will eventually follow.

    Ledger User Database Dumped Online, Targeted Phishing Attacks Expected? One of the leading cryptocurrency hardware wallet manufacturers, Ledger, has seen its user database dumped online in a massive privacy breach. Though the company issued a statement and tried to remedy the situation, the damage is done.

    Pro-Crypto Commissioner Elad Roisman Named New SEC Chairman. Elad Roisman has been named the new Chairman of the United States Securities and Exchange Commission. He has previously stated that crypto needs clearer and more transparent regulations.

    DeFi Token 1inch Spikes 1000% in Christmas After Binance Listing. In an airdrop much similar to that of Uniswap’s UNI token, the popular DEX aggregator 1inch has distributed its native token to users. The price for it surged by more than 1,000% following a listing on Binance.

    Charts

    This week we have a chart analysis of Bitcoin, Ethereum, Ripple, Binance Coin, and Chainlink – click here for the full price analysis.

    SPECIAL OFFER (Sponsored)
    Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

    PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO35 code to get 35% free bonus on any deposit up to 1 BTC.


    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

    Cryptocurrency charts by TradingView.
    Tags: Bitcoin Bitcoin (BTC) Price Ripple SEC
    Enjoy reading? Share with your friends
    Facebook Twitter LinkedIn Telegram

    About The Author

    George Georgiev
    More posts by this author

    Georgi Georgiev is CryptoPotato's editor-in-chief and a seasoned writer with over two years of experience writing about blockchain and cryptocurrencies. Georgi's passion for Bitcoin and cryptocurrencies bloomed in late 2016 and he hasn't looked back since. Crypto’s technological and economic implications are what interest him most, and he has one eye turned to the market whenever he’s not sleeping. Contact George: LinkedIn

  • bitcoin
    BTC$50,175.00
  • ethereum
    ETH$1,717.89
  • Join Our Community

    FacebookTwitter YouTubeTelegram


    ADVERTISEMENT
    pionexb
    2local
    Bitcoin Editorials
    What is Dogecoin (DOGE)? 5 Facts About the Crypto That Started as a Joke 

    What is Dogecoin (DOGE)? 5 Facts About the Crypto That Started as a Joke 

    The Laser Eyes Meme: Not a Coincidence That This Marked a Local Top for Bitcoin (Opinion)

    The Laser Eyes Meme: Not a Coincidence That This Marked a Local Top for Bitcoin (Opinion)

    What Are the Risks of Governance Tokens? (Opinion)

    What Are the Risks of Governance Tokens? (Opinion)

    The Bitcoin Bubble Effect: Yes, We Are in a Very Early Stage (Opinion)

    The Bitcoin Bubble Effect: Yes, We Are in a Very Early Stage (Opinion)

    Will Bitcoin Price Rally Continue In 2021? 8 Key Considerations

    Will Bitcoin Price Rally Continue In 2021? 8 Key Considerations

    Join Our Newsletter
    Become a CryptoPotato VIP
    One Weekly Email Can Change Your Crypto Life.
    Sign-up FREE to receive our extended weekly market update and coin analysis report
    We NEVER send spam. You can unsubscribe at any time.
    Invalid email address
    Thanks for subscribing!
    About
    Advertise on CryptoPotato
    About Us | Contact Us

    Terms of service | Privacy Policy | GDPR
    More Sections
    IEO List | Evaluations
    Airdrops
    Scholarship
    Cannabis Stocks News | Market Analysis
    Disclaimer
    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. Full disclaimer
    © Copyright CryptoPotato 2016 - 2021
    Scroll to top