Ripple Prices Keep Climbing as Investors Wait for Significant Announcement 

Garrett Baldwin

Ripple prices have been climbing this past week as growing excitement surrounds Ripple's "Swell" conference in Canada on Oct. 16, 2017.

In a Quora question-and-answer session on Oct. 3, a user asked Ripple CEO Brad Garlinghouse if there would be any "significant announcements" during the event.

Garlinghouse said there would be, and that the event could be live-streamed on Ripple's website.

Below is a recap of the top cryptocurrency prices at 12:30 p.m. EDT.

• Bitcoin: $4,377.15, +1.41%
• Ethereum: $300.74, +2.07%
• Ripple: $0.23, +2.57%
• Bitcoin Cash: $367.41, +2.34%
• Litecoin: $52.39, +1.78%

Now that we know all of today's price movements, here's what has been moving these cryptocurrencies…

Cryptocurrency Markets Today

On Friday, the total market capitalization of the global cryptocurrency sector rose to $147.9 billion

Top performers from the largest 50 cryptocurrencies by market capitalization included Stellar Lumens (up 43.62%), Iconomi (up 22.09%), ChainLink (up 13.88%), Zcash (up 6.02%), and Gnosis (up 7.83%).

The worst performers from the top 50 largest cryptocurrencies by market capitalization included Walton (down -8.97%), Kyber Network (down -7.45%), Binance Coin (down -6.12%), Cardano (down -5.22%), and IOTA (down -5.04%).

Bitcoin Traders Eye SegWit2x

Bitcoin prices pushed toward $4,400 per token as traders continue to monitor the development of SegWit2x. This morning, Bitfinex announced that it was creating another pair of tokens that allows users to bet on the potential split of the Bitcoin blockchain when the protocol is implemented in November.

Meanwhile, Bitcoin.org is planning to denounce SegWit2x next Wednesday at noon.

The company will post a banner on every one of its webpages warning readers about the risks associated with the controversial hard fork.

Trending: The Bitcoin Gold Hard Fork Explained

The company is also planning on listing all of the companies that are supporting S2X. The company warned that "S2X claims to have replay protection, but their version requires extra manual steps in order to prevent loss of BTC. If you use S2X software without careful engineering, you are likely to lose any associated BTC."

Ethereum Prices Finally Cracks $300 Again

The Ethereum price topped $300 on Friday thanks to increased buying in the Korean markets.

The price followed Bitcoin higher and broke through the key psychological barrier after a week of trading in a range between $280 and $300.

Another Central Bank Plans Regulation

Singapore's central bank is the latest to announce plans to regulate the cryptocurrency sector.

The Monetary Authority of Singapore issued a statement saying that it was considering a framework to target Bitcoin payments and initial coin offerings.

"Virtual currencies can go beyond being a means of payment, and evolve into 'second generation' tokens representing benefits such as ownership in assets, like a share or bond certificate," said Tharman Shanmugaratnam, the deputy prime minister of Singapore.

Editor's Note: Never miss a single cryptocurrency update again. Get free, real-time alerts sent to your inbox by clicking here.

Follow Money Morning on Facebook, Twitter, and LinkedIn.

Garrett Baldwin

About the Author

Browse Garrett's articles | View Garrett's research services

Garrett Baldwin is a globally recognized research economist, financial writer, and consultant with degrees from Northwestern, Johns Hopkins, Purdue, and Indiana University. He is a seasoned financial and political risk analyst, with a focus on stocks, hedge funds, private equity, blockchain, and housing policy. He has conducted risk assessment projects for clients in 27 countries, and consulted on policy and financial operations for some of the nation's largest financial institutions, including a $1.5 trillion credit fund, a $43 billion credit and auto loan giant, as well as two of the largest Wall Street banks by assets under management.

Garrett joined Money Map Press as an economist and researcher in 2011, specializing in alternative strategies with an emphasis on fundamental and technical analysis.

… Read full bio