The exchange rate of the cryptocurrency Ethereum (ETH) and Ripple (XRP) increased by 10% in a matter of minutes due to abnormal market activity. In this case, the value of Bitcoin remains unchanged.
The trading volume of XRP and ETH surged cryptocurrency exchange Bitfinex, then this trend originated on other trading platforms. The rise of digital assets is not due to some objective factors, so many traders suggested manipulation of virtual currencies.
17 Sep company Ripple announced the release of a new cryptocurrency product, which is scheduled for October 2018. However, the XRP price began to rise on September 19 around 11:00 Moscow time, so the connection between the two events is unlikely. It is important to note that in the last two months the price of XRP has declined markedly against the us dollar and Bitcoin, the activity of the sellers of cryptocurrency has led to a situation of overselling on the market. This circumstance could trigger a sharp jump in the cost of the asset.
In the course Ethereum is rarely affected by events in the cryptocurrency market , or new releases of the software. Thus, the rise in price of coins at 10% represents a course correction after a downward trend. Most likely, the group of investors joint efforts of trying to reverse the bearish trend and seize control of the market. Abnormal trading activity in the cryptocurrency exchanges indicates a change of trend and the emergence of a short-term uptrend. However the market situation remains unstable, so to make predictions for the days ahead it's still early.