Crypto update: Bitcoin (BTC), Ripple (XRP) and Litecoin (LTC) push higher

Much to the delight of cryptocurrency traders, there were solid gains being made across the crypto market over the weekend.

Over the weekend the market has pushed notably higher and brought its total value to US$464 billion.

Here’s what you need to know:

The bitcoin (BTC) price has risen by over 4% since midnight on Friday to reach US$11,437 per coin this morning. This has increased bitcoin’s market capitalisation to US$193.3 billion, which is the equivalent of 41.7% of the entire market. At one stage the world’s largest cryptocurrency reached a weekend-high of US$11,522 before profit taking weighed on proceedings. Bitcoin traders have a tendency of locking in gains ahead of the start of a new week.

The ethereum (ETH) price is marginally higher during the period to US$865.98 per token. The popular altcoin’s market capitalisation currently stands at just under US$85.9 billion.

The world’s third-largest cryptocurrency, Ripple (XRP), is up 4.2% since midnight of Friday to 95.2 U.S. cents. Ripple’s market capitalisation has lifted to over US$37.2 billion after this gain. It is, however, still down over 75% from the high it made at the start of the year. At that point Ripple had a market capitalisation of almost US$150 billion.

The Bitcoin Cash (BCH) price has risen slightly to US$1,275.55 during the period. This left the bitcoin spin-off and fourth-largest cryptocurrency with a market capitalisation of US$21.7 billion.

The litecoin (LTC) price is up over 2% since midnight on Friday to reach US$212.11 per token. The popular altcoin, which has been tipped by its founder to overtake Bitcoin Cash’s market capitalisation this year, now has a market capitalisation of just under US$11.8 billion. The LTC price will need to almost double over the next nine months if it is going to overtake BCH. I’m a touch sceptical that this will occur.

In fact, I'm betting that these tech shares outperform litecoin this year. Do you own them?

The Disruptors: 3 Revolutionary Aussie Companies to Back for 2018

We're living in one of the most exciting times in investing history. Innovation and a booming culture of entrepreneurship are constantly creating new companies with the potential to make forward-thinking investors very rich. Now more than ever, one small, smart investment could make a huge difference to your wealth.

That's why at The Motley Fool we've been scrutinizing the ASX to uncover the kinds of companies that we believe could turn into the next Cochlear or REA Group.

We've found three exciting companies that we believe re poised to perform in the new year. Click here to uncover these ideas!

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.