Ripple price (XRP/USD) spikes to six-day high on Monday $XRP

Ripple (XRP) has been the best the best performing top 10 cryptocurrency over the past 24 hours, according to data from digital currency tracker Coinmarketcap.

The third-largest digital coin on the market has risen steadily since the start of today’s trading, but its advance accelerated toward the end of the morning session, with its price spiking to a six-day high of $0.553. The cryptocurrency has since retreated to lower levels and is currently hovering around $0.54.

Ripple has also seen notable improvement in terms of trading volume, which appears to be driven by South Korean cryptocurrency exchanges. Recent market data shows that around $460 million worth of XRP tokens have exchanged hands in the past 24 hours, significantly more than the $262 million generated during the Monday trading session. South Korea’s Bithumb exchange captures 27% of that volume, while local rival Upbit ranks second among crypto trading platforms worldwide with 14.5%. Japanese exchange Bitbank comes in third place with 10.2%, followed by Binance (7.2%) and another South Korean exchange, Coinone (6%)

Like most of its cryptocurrency peers, Ripple suffered significant losses last week in the wake of news about Twitter banning some crypto-related advertising and two Japanese exchanges shutting down their operations. However, the cryptocurrency also enjoyed some positive developments during that period, most notably a listing on digital payment start-up Uphold’s platform. This meant that Uphold’s US-based users would now be able to exchange, trade and transfer XRP within Uphold’s ecosystem, Ripple said in a blog post last Thursday. Also last week it was reported that Ripple had joined Hyperledger blockchain consortium, which is backed by the Linux Foundation.

In today’s trading, the Ripple price stood at $0.543, as of 13:55 BST. The cryptocurrency has gained 8.2% in the past 24 hours. Its market capitalisation currently stands at $21.2 billion.

For further information on how to buy and trade Ripple, see our comprehensive Ripple guide.

Be the first to comment

Leave a Reply

Your email address will not be published.


*