Crypto Market Sees Significant Shifts as Bitcoin Surges Above $87,000
The past week saw significant developments in the crypto market, particularly for Bitcoin (BTC), Ripple's XRP Ledger, and Shiba Inu (SHIB).
BTC surged above $87,000 on October 2 after a weak US jobs report showed nonfarm payrolls rising by just 29,000, well below expectations. This reduced the likelihood of another Federal Reserve rate hike this month.
Ripple advanced its XRPL lending plans by opening the LendingProtocolV1_1 amendment for validator voting on September 30. The proposal introduces closed-ended lending vaults and cash-basis accounting, which must be approved by more than 80% of trusted validators within two weeks.
SHIB recorded its strongest monthly performance in 2026 with a 13.5% gain in September, according to data from CryptoRank. The token also saw a daily golden cross on October 2, the first such signal in almost two years.