As a seasoned crypto investor with a decade of market experience under my belt, I can confidently say that the recent surge in XRP is nothing short of exhilarating. Having witnessed several bull runs and bear markets, I’ve learned to read the signs, and the current trend seems promising.
As a researcher immersed in the dynamic world of cryptocurrencies, I’ve observed an intriguing surge in activity surrounding XRP, the fifth-largest digital coin by market capitalization. In just the past 24 hours, the trading volume of XRP has soared by an impressive 130%. This surge propelled its price to hit a peak of $1.949 during the early trading session on Saturday.
The rapid increase in XRP has brought it near the significant price point of $2, a level last touched during its 2018 market surge. Trading activity for this token surged on prominent exchange platforms as investors cashed in on the positive market trend.
As a researcher delving into the world of cryptocurrencies, I found an intriguing surge in XRP’s trading volume. According to CoinMarketCap, this figure stood at approximately $18.55 billion, equivalent to around 9.77 billion XRP units. Remarkably, this represents a staggering 130% increase compared to the previous data.
Currently, at the point of composition, XRP had increased by 17.46% over the past 24 hours to reach $1.90. This rise continues a streak of four consecutive days’ growth since November 27th. The substantial upward trend represents one of the most noteworthy movements for XRP in recent months, sparking renewed attention and curiosity within the market.
XRP nears $2
Starting on November 4, when it was trading at $0.50, the price of XRP started to climb higher due to positive regulatory news and a generally optimistic market atmosphere.
The overall cryptocurrency sector has been on an upward trajectory, boosting the values of leading cryptos such as Bitcoin and Ethereum noticeably. This positive trend across the crypto market likely fuels the growing curiosity about Ripple (XRP).
Positive news on the impending Ripple stablecoin launch might have also contributed to the latest XRP surge.
According to reports from Fox Business, it’s expected that the New York Department of Financial Services will soon give its approval for Ripple Labs’ RLUSD stablecoin.
Based on an article from Fox Business published on November 29th, it’s possible that the regulatory approval for the dollar-backed digital coin might be granted as soon as December 4th, potentially leading to its release around the same time.
With XRP approaching the $2 value, there’s a keen interest in its progression as numerous observers anticipate that this growth spurt might signal the start of an extended bullish run.
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2024-11-30 12:53