Bitcoin Price Shows Signs of Recovery as Altcoin Market Stays Red
Max Boddy's original article for cointelegraph.com reduced by 42%
Thursday, Aug. 15 - Bitcoin is seeing some upward movement as Ether and XRP continue to slump. Bitcoin is trading at $10,407 at press time, representing a 0.82% price increase on the day.
XRP, the number two alt by market cap, is trading at $0.267 and trending down by 4.97% on the day at press time. As recently reported by Cointelegraph, trader Peter Brandt accused Ripple, the issuer of XRP, of price manipulation. Brandt does not appear to be speaking hyperbolically, as he further clarified that he does believe Ripple is quite literally manipulating XRP price.
"I used 'manipulate' because it is exactly what Ripple has been doing since it introduced XRP The chart pattern for many, many months has shown the distribution of XRP by Ripple - it has manipulated the price to hold support. But if support gives way Ripple will be forced to dump in a major way." ALGO is currently trading a little over $0.699 and is trending down by over 12%. Interestingly, ALGO was scheduled to begin its listing process on the professional trading platform Coinbase Pro yesterday, which correlated with a boost in price for other tokens such as Chainlink.
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Summarised crypto news.