XRP is regaining momentum, following the crypto market resurgnance, breaking back above $0.50.
XRP is currently priced at $0.50, with a 24-hour trading volume of around $2 billion and a market cap of $28.35 billion, reflecting a 11.1% price increase in the last 24 hours.
Its all-time high was $3.92 on January 4, 2018, which means XRP still has a long way to go, before reclaiming its peak.
The recent surge in XRP’s price follows the announcement of new indices and reference rates by CME and CF Benchmarks, which Ripple CEO Brad Garlinghouse believes will boost institutional adoption.
Market conditions, including sales pressure from Mt. Gox and the German state of Saxony’s Bitcoin liquidation, have led to cautious buyer behavior.
Analysts suggest that significant gains in major tokens and altcoins are unlikely until Bitcoin sees a substantial upward movement.
However, XRP’s institutional support and strategic positioning may continue to drive its growth.
Bitcoin and the crypto market as a whole experienced a swift recovery this past day, with most prices being in the green.
A cryptocurrency trader recently achieved a staggering 100-fold return by investing in the meme coin First Neiro (NEIRO).
TRON’s founder, Justin Sun, envisions the cryptocurrency climbing to the top three alongside Bitcoin and Ethereum within the next two years.
Arthur Hayes, the founder of BitMEX, has recently praised Aptos (APT) for its potential to address various inefficiencies in the traditional finance (TradFi) sector.