Cryptocurrency prices edge higher with ripple bouncing back 65% after ‘severe’ sell-off

Major digital currencies edged higher on Thursday, after a two-day sell-off saw the world’s biggest cryptocurrency bitcoin lose more than 50 percent from its December high.

Bitcoin and ethereum — the first and second largest virtual currencies by market value — appeared to recover after Wednesday’s lows.

Bitcoin fell as low as $9,199.59 on Wednesday morning, but bounced back to $11,702.74 as of Thursday at 12:00 p.m. ET, according to CoinDesk, which tracks prices from cryptocurrency exchanges including Bitstamp, Coinbase, itBit and Bitfinex. It was up 5 percent in the last 24 hours. The red-hot digital asset also broke the $12,000 level, hitting $12,045.10 at about 10:14 a.m.

Ethereum on the other hand dived below the $800 mark to a three-week low of $780.92 Wednesday, but lifted to $1,072.57 the following day. It was more than 5 percent higher in the last 24 hours.

Ripple’s XRP, which is also known as ripple, surged 65 percent to $1.64 a coin, according to data from CoinMarketCap. The digital currency — which is controversial among crypto enthusiasts due the firm behind it being backed by big banks — fell as low as 90 cents the previous day.

 

Data provided by cnbc.com