Ripple, Stellar Take a Breather after Advancing to New 2014 Highs

Ripple's XRP and rival Stellar (STR) have finally taken a pause from their relentless rallies to new highs.

XRP had continued its hot streak last week, advancing toward new all-time highs last seen in September 2013. It traded as high as 9000 satoshi ($0.0279), coming within 18% of its record near 10,600.

It has since retraced by as much as 22% to below 7000, now trading at 7560. A sizeable retracement had been in order after a streak, since it added over 1800% from summer lows.

At its peak, Ripple's XRP had a total valuation of over $860 million, one-fifth that of Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term.

Rival Stellar retraced by as much as 33% from new record highs of 2800 satoshi ($0.0089). It has now stabilized near 1800. Within a 72-hour window last week, it had quadrupled its bitcoin-denominated value.

Now worth over $20 million, it has advanced to fifth spot of market cap rank, its highest position ever.

With both Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term, recent gains have by far outpaced declines in bitcoin--the denomination in which they are commonly traded--as evidenced by their increases in dollar-denominated value.