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.
Charles Hoskinson, the founder of Cardano, recently addressed claims about ADA staking and its market value.
Metalpha, a major crypto wealth management firm based in Hong Kong, recently transferred $77.55 million in Ethereum (ETH) to Binance, as reported by Lookonchain.
This month, Toncoin (TON) will roll out a series of high-profile airdrops.
Shiba Inu’s marketing leader Lucie announced a major update for Shibarium’s Layer 2 blockchain, hinting at a significant development coming in less than nine days.