On Friday, December 25, the largest cryptocurrency by market cap recovers above the $23,600 mark. As of press time, bitcoin (EXANTE: Bitcoin) is trading at $23,691 (+3.03%).
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Chart of the USD/BTC trading pair from EXANTE
For its part, Ethereum also surged by 6.31% up to $614.95. XRP, after the big dip, managed to regain the most (+34.90%) up to $0.34.
FxPro's team of analysts say XRP's surge is a "purely speculative" rebound that can end very quickly. Fundamentally, the situation with the asset is not improving yet, they add.
"Bitcoin will soon bump into resistance, but the very fact of repeated attempts to move forward may convince crypto market participants that new all-time highs are possible," the analysts highlight.
As iHodl recently reported, cryptocurrency bank by Mike Novogratz, Galaxy Digital Holdings Ltd., suspended XRP trading until further notice following the filing of a lawsuit by the US Securities and Exchange Commission (SEC) against fintech company Ripple.
Novogratz's crypto bank is not the only one who cut ties with XRP as, Jump Trading, Bitwise Asset Management, Simplex, CrossTower and OSL also announced their suspension.
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