A lot of people are keeping a close eye on the cryptocurrency markets as we speak. That is only to be expected, especially when the Bitcoin price is heading upward again. Although the current BTC trend is pretty significant, there is a good reason to keep an eye on the XRP price as well. Right now, the XRP price sits at just over $0.265, which represents a 10% growth.
XRP Price is on the Move Again
Cryptocurrency markets of all kinds are going through a much-needed recovery process as we speak. Most of these currencies have lost a lot of value over the past few weeks, but things are we finally starting to pick up again. Especially the XRP price is going through a nice uptrend as we speak, pushing the value per XRP back to $0.267 all of a sudden. This sudden 1.47% price gain will not go by unnoticed.
While most cryptocurrency enthusiasts may dislike XRP for various reasons, no one can deny this currency has a fair bit of potential. The year 2017 has been pretty spectacular for RIpple and its native XRP currency, as the value has soared to an all-time high of $0.34 earlier this year. Ever since that time, the value of XRP has taken a real beating, though, but the asset is not done just yet.
More specifically, the XRP market cap has been pushed over $10bn once again, which is good to see. People who bought XRP during the recent dips will certainly be pleased with the way things are going as of right now. Over the past week, we have seen the XRP price go from $0.20 all the way to $0.279, which was reached shortly before the price started showing signs of a small correction.
Additionally, the XRP trading volume has been picking up nicely. Although this digital asset has seen some fluctuations over the past few weeks, the past 24 hours generated $687.7m worth of trades. That is a more than respectable number, especially when considering how all major cryptocurrencies have seen a reduction in trading volume over the past few weeks. With things finally heading back in the right direction, things will get pretty interesting moving forward.
No one will be surprised to see Korean exchanges leading the charge when it comes to XRP trading. Bithumb, m Coinone, and Korbit are the three trading platforms for XRP right now, which may indicate this is just a pump-and-dump cycle for XRP. Then again, all platforms are pricing XRP at the same value, which goes to show this is either well-coordinated or just a natural price progression trend. Only time will tell what the future holds for the XRP price.
In the end, it is good to see cryptocurrency markets show some sign of recovery all of a sudden. With the Bitcoin price moving toward the $4,600 mark again, most other currencies will benefit from this momentum as well. XRP is definitely the go-to currency right now in this regard, although it is possible the momentum will shift to different altcoins in the coming hours or days. Most major altcoins are going through a rough patch right now, even though there is no apparent reason for it whatsoever.
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