Cryptocurrency prices are showing signs of recovery on Friday, led by Bitcoin (BTC), which has reclaimed support above $112,000. Altcoins, including Ethereum (ETH) and Ripple (XRP), are edging higher, reflecting easing selling pressure.
Ripple (XRP) is facing a spike in volatility on Thursday that is impacting most major cryptocurrencies. The international money transfer token is down nearly 5%, trading at $3.10 at the time of writing.
Bitcoin (BTC) faces a slight pullback after setting a new all-time high of $124,474 in early Asian trading on Thursday. This price surge was fueled by rising expectations that the US Federal Reserve (Fed) will cut interest rates soon and by increasing institutional and corporate demand for BTC.