Marketupdate: Bitcoin above 97.000 dollar, Ripple up 12%

The correction of the beginning of the week is over, leaving Bitcoin, Ethereum etc shining with nice price gains. The total market capitalization now stands at US$3.38 trillion, up 2.6 percent from the previous day.

At the time of writing, Bitcoin trades for US$97,050 and is recording a 2.3 percent increase in the last 24 hours. Compared to last week, Bitcoin's price is up 1.9 percent. Ethereum stands at US$3,230, representing a 1.5 percent increase from yesterday. On a weekly basis, however, the second-largest cryptocurrency lags behind, falling 2.6 percent, mainly due to high net outflows from ETFs.

XRP, on the other hand, is making its presence felt after being barely touched by the crypto correction. Currently, XRP is trading at US$2.85, up 12 percent from the previous day and 25 percent within a week. With a market capitalization of US$164 billion, XRP is now valued higher than BlackRock, the world's largest asset manager. One possible reason for the recent XRP price rally is optimism about an upcoming adoption of an ETF.

As a result of the positive price developments, the Fear & Greed Index is back at "Greed" with a score of 70. Towards the end of the year, this index briefly switched to neutral territory. Some altcoins, meanwhile, are showing even bigger price gains than XRP: compared to yesterday, XDC Network (XDC) is up 22.2 percent, AI16Z is up 19.3 percent and IOTA is climbing 15.9 percent.