According to CryptoPotato, Bitcoin (BTC) experienced significant price fluctuations but managed to recover to above $70,000 despite market dips influenced by US inflation reports. Ripple (XRP) saw a 9% weekly rise in value, gaining attention ahead of its trial with the US Securities and Exchange Commission (SEC). Shiba Inu (SHIB) also saw a 6% increase in the last seven days, with predictions of further growth supported by network activity and development updates.
Bitcoin's price experienced significant turbulence in the last few days, ranging between $68,000 and $72,000. The lowest level was recorded on April 11, when the entire market dipped substantially following the latest US CPI report showing that inflation has increased more than expected. Despite this, the negative trend did not last long, with the asset's valuation rebounding above the $70K mark. Currently, the asset trades at around $70,500, representing a 7% weekly surge. Some analysts predict further gains in the near future based on important upcoming events like the BTC halving.
Ripple's XRP recorded even more substantial gains than BTC in the past seven days, rising by 9% and briefly touching the $0.64 mark. The asset has become a major subject of interest in the crypto space. The crypto market intelligence platform, Santiment, recently outlined the top 10 digital currencies involved in the most discussions, with XRP placed in the seventh spot. The interest could be related to the approaching trial between Ripple and the US SEC, set for April 23. The legal dispute between the entities has been ongoing for over three years and is focused on XRP’s status.
Shiba Inu (SHIB), another well-known cryptocurrency, has also returned to green territory. The price of the second-largest meme coin is up 6% on a 7-day scale, with some analysts expecting an impressive bull run in the following months. The asset’s burn rate and the advancement of its layer-2 blockchain solution, Shibarium, may also trigger a price rally. The network experienced a significant revival in terms of daily transactions this week, while the number of total blocks exceeded the 4 million milestone.