• XRP surges on rumors surrounding outcome of its legal fight with the SEC.
• Crypto exchange Kraken signs multi-year global pact with Formula One team Williams Racing.
• Bitcoin is on track for its strongest quarter in two years, outperforming Nasdaq 100 and gold.
XRP, the cryptocurrency issued by Ripple, is surging on rumors surrounding outcome of its long-running legal fight with the Securities and Exchange Commission (SEC). The crypto was up as much as 10%, indicating a strong market sentiment.
Kraken & Williams Racing Partnership
Crypto exchange Kraken signed a multi-year global pact with Formula One team Williams Racing, making it the trading platform’s first major sponsorship deal. This move comes at a time when sports tie-ups with digital asset firms are becoming increasingly unpopular.
Bitcoin has stormed to a 72% gain over the last three months and is on track for its strongest quarter in two years. The token has outperformed both the Nasdaq 100 and gold, which are up 15% and 9%, respectively, in the same stretch. BTC/USD skyrocketed 4.0% in the last session, while ETH/USD jumped 1.5%. XRP/USD surged 6.3% during this period while LTC/USD exploded 3.1%.
Today’s economic calendar features several important releases including US Gross Domestic Product Annualized at 12:30 GMT and US Gross Domestic Product Price Index at 12:30 GMT as well as Eurozone’s Business Climate at 09:00 GMT. The GDP Price Index gauges the change in prices of goods and services produced within a country while Business Climate measures current opinion of businesses about economic conditions within Eurozone countries..
The cryptocurrency market appears to be showing positive sentiments with XRP gaining 10%, Bitcoin up 72%, Ethereum rising 1.5%, Ripple surging 6.3% and Litecoin exploding 3%. Today’s economic calendar includes important releases such as US Gross Domestic Product Annualized, US Gross Domestic Product Price Index, and Eurozone’s Business Climate index which will likely shape future market movements