A photo illustration of the digital Cryptocurrency, Litecoin (LTC), Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) are seen on September 13 2018 in Hong Kong, Hong Kong.
Yu Chun Christopher Wong | S3studio | Getty Images
Cryptocurrencies headed for a winning week after a court decision Thursday fueled a sharp, broad crypto market rally.
Bitcoin is on pace to end the week higher by about 3%, according to Coin Metrics, and on pace to finish above $30,000. Even with lower-than-expected inflation reported Wednesday and Thursday, the price of the flagship cryptocurrency was flat for most of the week, and after its 4% rally Thursday it was still unable to maintain the key technical level of $31,500. On Friday it was trading lower by 1% at $31,251.92.
Ripple’s XRP led the rally after a judge in the Southern District of New York ruled that it’s a security in some cases but not others. XRP is on track to end the week with a 65% gain. The token tied to Solana is up 30.5% for the week, Cardano’s ada has gained 21% and Polygon’s matic token in on track to finish 25% higher. Ether is up 7%.