Ripple is creeping closer to $1 again this morning as the cryptocurrency sees a massive spike.
Prices have jumped 18.9 percent today, echoing gains seen back in December 2017, when the token traded for more than $2.
As of 4.30pm, Ripple was trading at $0.864.
Ripple is the best performer in the market today, as the cryptocurrency tide rises.
Bitcoin rose 3.32 percent to trade at $8,506, with Ethereum trading at $586.
Bitcoin Cash leapt up 13.64 percent to trade at $1,096, while Litecoin trades at $149.
The cryptocurrency market is feeling positive after the US tax deadline and is set to keep in increasing.
Why is Ripple doing so well?
Ripple managed to survive the dreaded US tax deadline on Tuesday, posting strong results towards the end of the week.
The bulls pushed cryptocurrency prices up as a swirl of high-profile Wall Street investors dipped their toes in the market.
And it was confirmed the Chief Financial Officer (CFO) at Wall Street’s Och-Ziff Capital Management (Oz Management) has left to become the new CFO at major crypto wallet and exchange service Coinbase.
Brian Armstrong, the CEO and founder of Coinbase, said in the announcement post that he is “incredibly excited to have Alesia join Coinbase as our new CFO”:
“She brings deep financial services experience to our growing company. As a fintech company, finance is core to everything that we do. We plan to continue bringing the best and brightest from both finance and technology companies to help create an open financial system for the world.”
One former Goldman Sachs employee also joined crypto wallet Blockchain.com in their bid to attract more institutional clients.
Last week another now ex-Goldman Sachs exec reportedly left to join Mike Novogratz’s crypto merchant bank.
The moves arrive as optimism improves across the market.
Fundstrat’s Tom Lee had tweeted a poll two days ago on April 18, the day after US tax day, asking his followers what they thought BTC’s price would be in July of this year.
Lee had previously predicted that a massive crypto sell off before the April 17 tax day in America was what could have caused crypto’s slump since the new year.
The results of the poll show that the majority of voters see BTC as reaching above $12,000 by June, which Lee attributes to “Tax issue done” and “Major investor coming”.
He tweeted: “CRYPTO POLL: Final tally (thank you for voting!)… 64% see #BTC >$12,000 by mid-year. While we have no baseline (is this contrarian or confirming), multiple and growing arguments for why Bitcoin >$12K by Summer. Tax issue done. Headline risk fading. Major investor coming.”
Of the top 75 coins on CoinMarketCap during this bull market, only DigiBite is in the red, down around .5 percent over a 24 hour period and trading at around $0.03.