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Ripple rises over 4% even as risk appetite wavers
Ripple rose on Thursday even as the risk appetite wavered, but the cryptocurrency still received support from demand through international payment systems.
US President Donald Trump announced this week the implementation of 25% tariffs on Canadian and Mexican goods, in addition to a 10% tariff on Chinese imports.
He then first walked back on the tariffs for automakers, then walked back on all the tariffs for a month.
Earlier US data showed unemployment claims fell 21 thousand to 221 thousand last week from 242 thousand in the previous reading.
US President Donald Trump recently announced the formation of a strategic reserve for cryptocurrencies, which would include bitcoin, ethereum, ripple, solana, and cardano, which provided a boost to the crypto market.
Ripple
Ripple surged 4.3% as of 21:30 GMT to $2.59.
Euro declines after ECB rate decision
The euro fell against most major rivals on Thursday after an expected policy decision by the European Central Bank.
The ECB cut main borrowing rates by 25 basis points to 2.5% as expected, noting in its statement that inflation has slowed down in line with forecasts.
The ECB now expects inflation to hit 2.3% this year, before slowing down to 1.9% in 2026, before rising to 2% in 2027.
The ECB reduced forecasts for eurozone economic growth in 2025 to 0.9%, and in 2026 to 1.2%, and in 2027 to 1.3%.
On trading, the EUR/USD pair fell 0.1% as of 21:29 GMT to $1.0781.
Aussie
The Australian dollar fell 0.1% against its US counterpart as of 21:30 GMT to 0.6332.
US Dollar
The dollar index fell 0.1% today to 104.2, with a session-high at 104.3, and a low at 104.7.
US President Donald Trump announced this week the implementation of 25% tariffs on Canadian and Mexican goods, in addition to a 10% tariff on Chinese imports.
He then first walked back on the tariffs for automakers, then walked back on all the tariffs for a month.
Earlier US data showed unemployment claims fell 21 thousand to 221 thousand last week from 242 thousand in the previous reading.
Bitcoin rises for third straight session
Cryptocurrencies gained ground on Thursday with bitcoin heading for the third straight profit, about to scale two-week highs amid a spike in positive sentiment.
The gains come amid increasing institutional support from major corporations, while Wall Street rebounded, led by automakers.
The Price
Bitcoin rose 2.5% at Bitstamp today to $92,790, with a session-low at $89,995.
On Wednesday, bitcoin rose 3.9%, marking the second profit in a row and moving away from a three-month trough at $78,197.
Crypto Market Value
The market value of cryptocurrencies rose by $75 billion to a total of $3.140 trillion.
MetaPlanet
Japan’s MetaPlanet corporation continued to expand its holdings of bitcoin, adding 497 more units this week at a value of $43.9 million, with an average price of $88,448, with the company’s total holdings rising to 2888 units valued at $240.2 million.
This mirrors US Microstrategy’s crypto hoarding strategy, and shows increasing institutional confidence in bitcoin as a strategic reserve.
Wall Street
US stock indices rebounded strongly on Wednesday with major indices marking huge profits off four-month lows.
The White House decided to provide exemptions to automakers from the 25% tariffs on Mexico and Canada for a month as negotiations continue.