Bitcoin and XRP Prices Rise. How to Spot the Next Move for Cryptos. — Barrons.com

By Callum KeownBitcoin, XRP and other cryptocurrencies were higher early Thursday as investors appeared to rediscover their appetite for riskier assets. That could all change quickly, though, as stock futures pointed lower.The price of Bitcoin was trading at $82,635 early Thursday, up around 0.5% over the past 24 hours. XRP, which is used to facilitate transactions on Ripple Labs' digital-payments platforms, also edged higher to $2.22. The popular altcoin has recovered in recent days after falling below $2 earlier this week for the first time since November. Ethereum, the second largest cryptocurrency, was down 4% at $1,858.The gains for Bitcoin and XRP came after the tech-heavy Nasdaq Composite jumped 1.2% Wednesday following cooler-than-expected inflation in February. Consumer prices rose 2.8% year-over-year, while economists had forecast a 2.9% jump.Investors reacquainted themselves with some of the risky assets they've been selling off recently — Nvidia stock jumped more than 6% and Palantir rose 7%.Cryptocurrencies, which have moved largely in line with broader market sentiment, were also given a boost. That correlation has mostly been a bad thing for digital assets over the past few weeks but Wednesday is a reminder that it can also lead to gains.In the absence of more crypto announcements from the White House, traders may need to watch U.S. tech stocks for a steer on where digital assets go next.Write to Callum Keown at [email protected] content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.