Bitcoin (BTC) Price Surge, Important Ripple (XRP) Partnership, Shiba Inu (SHIB) Developments: Bits Recap Oct 27

2023-10-27 08:28:10

TL;DR

Cleared of additional SEC charges, XRP price soared past $0.50. It later surged above $0.55 following a partnership with Uphold.
Bitcoin price touched $35,000, possibly due to anticipated US SEC approval of BlackRock’s BTC ETF.
Shiba Inu value spike possibly linked to Shibarium’s growth, with a 400% increase in daily transactions.

It is Always Interesting Around Ripple (XRP)

The last few days witnessed some developments that sparked additional optimism across the XRP community. Namely, Ripple won another partial victory in the lawsuit against the US Securities and Exchange Commission (SEC) after CEO – Brad Garlinghouse – and utive Chairman – Chris Larsen – were cleared of all charges brought by the regulator.

The price of XRP reacted positively,surpassingthe $0.50 mark. The uptrend continued at full speed in the following days, possibly influenced by the overall crypto market revival and important collaboration that the blockchain enterprise made.

As CryptoPotatoreportedearlier this week, Ripple shook hands with the American-based cryptocurrency exchange – Uphold – “to underpin and enhance its cross-border payments infrastructure.” Shortly after announcing the pact, the marketplacevowedto distribute 20,000 XRP (equaling over $11,000 at current rates) to one lucky customer. Prior to the partnership, the offer stood at 10,000 XRP.

Bitcoin (BTC) Stole the Show

The substantial price surge of the primary cryptocurrency has been another intriguing topic recently. BTC touched the coveted level of $35,000 in October (for the first time in 17 months), giving investors hopes that the prolonged bear market might be finally over.

One reason behind the rapid increase could be the arising rumors that the US SEC could soon approve BlackRock’s application to introduce a spot BTC ETF in America. Recall that the product waslistedwith the Depository Trust & Clearing Corporation, and some suggested that this was the last step before the watchdog’s long-awaited nod.

Those willing to check how high BTC could go in the future (according to certain prominent figures) could take a look at our dedicated video below:

SHIB was Also on the Rise

Another digital currency that saw its valuation spiking to a monthly high is the popular memecoin Shiba Inu (SHIB). Apart from following the green wave, its uptrend could be a result of Shibarium’s further advancement.

The total number of daily transactions on the layer-2 scaling solutionsoaredby 400% on October 25, exceeding 62,000. In addition, the network’s total blocks currently stand at over 1.3 million, while wallet addresses are more than 1.25 million.

Those curious to find out more about the launch, specifics, and purposes of Shibarium can do so by clicking on the clip below:

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