CEX.IO company blog | Results of the week (December 21 – December 27): Bitcoin has won over Ripple investors

Alexander Yanyuk, CEX.IO Broker finance expert comments:

Brent crude oil over the past weekdropped to $49.20 per barrel, but on Fridaywas able to consolidate above the $51 level, which indicates the strength of bullish sentiment in the energy market. Gold continued to remain within a narrow range and ended last week at $1,882.90 per troy ounce. Most likely, the precious metal will not be able to demonstrate any strong directional movement until the end of the year, as investor interest in this protective asset is gradually fading.

On the foreign exchange market, the dollar fell slightlyto overcome losses against most major currencies, the USD index rose to 90.25 over the past week. The ruble continued to weaken against the USD and ended the week at 74.19. However, as long as the USD/RUB pair is below 75, the ruble is technically inclined to strengthen. The euro also rose in price against the Russian currency and the EUR/RUB pair was trading at 90.56.

The cryptocurrency market was able to surprise twiceinvestors. First, the collapse of Ripple quotes by more than 40%, which pulled down the main digital assets, and then a sharp rise in Bitcoin above $28,300. The drop in the XRP/USD rate was associated with the SEC's lawsuit against the founders of Ripple, which dealt an image blow not only to XRP, but and all cryptocurrencies. However, investors chose to redirect funds to more reliable assets, thereby provoking a sharp rise in the BTC/USD pair.

The dynamics of fixed assets for the period December 21 - 27:

— Oil fell from $52.32 to $51.37 (-1.81%)
— Gold decreased from $1,887 to $1,882.90 (-0.22%)
— The USD/RUB pair rose from 73.34 to 74.19 (+1.16%)
— The EUR/RUB pair rose from 89.84 to 90.56 (+0.80%)
— Bitcoin rose from $23,700 to $28,380 (+19.7%)