Saturday, January 23, 2021

XRP Records Its Highest Price since Last July As It Breaks Above $0.4

The patience of the teeming XRP investors and traders is beginning to pay off, considering its recent positive trend. The digital token has recorded its highest price since July 2020, after breaking above $0.4 resistance level.

Another interesting development is the fact that XRP has regained its third-position in the market after a couple of months, displacing Tether (USDT) with $18.69 billion.

Looking at the data made available by CoinMarketCap, XRP has gained over 30% in the last 24 hours and trading at $0.416548 at the time of publication.

The significant increase of cryptocurrencies across the board has initiated about a 3% increase in the global crypto market capitalization. The overall market cap now stands at $537,637,424,126.

Read Also: XRP Whales Are Still On the Increase –Santiment

XRP Remains the Top Gainer in the Past Week

The significance of Bitcoin (BTC) in the crypto market has made some traders and investors ignore the outstanding performance of XRP in the market over the past week.

XRP Records Its Highest Price since Last July As It Breaks Above $0.4

In the past 24 hours, Bitcoin (BTC) price has only managed a 2.02% increase and Ethereum (ETH) has recorded 5%, while XRP significantly outruns other top cryptocurrencies with about a 31% surge at press time.

In terms of weekly top gainers, XRP has managed a 53% increase, Ethereum (ETH) 15.85%, while Bitcoin with more attention than any other top digital currencies only recorded a relatively 16% increase, according to CoinMarketCap.

Read Also: Citibank Foresees Bitcoin (BTC) At $318,000 By December 2021. Here Is Why

Coinciding with the rally is the prospect of Covid-19 jabs and the earlier Joe Biden’s win.

XRP is a cryptocurrency favored by payments institutions, who use it for real-time settlements and moving money across banks at low costs.

Ripple, a cross-border payment company based in San Francisco, oversees the distribution of the cryptocurrency. However, a hostile regulatory climate is making it difficult for the payment behemoth to thrive as expected in the United States.

Tobi Loba
Tobi-Loba is a creative and an award-winning writer with over 5 million readers from all over the world. She has B.A in English and Literature from a reputable University and currently studying for her M.A in the same field. She recently became a contributor at Herald Sheets in order to satisfy her thirst in reporting crypto and blockchain occurrences, the interest she built over the years.

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