XRP coin has outperformed most of the major cryptocurrencies, including Bitcoin, in a daily run as it has registered a rally of 32% over the past 24-hours. While over the weekly timeframe, it is up 52%.
After growth of 32%, the fourth largest coin has reached $0.40, the highest level since July 2019. Yesterday, XRP was exchanging hands at $0.286, but now, it has claimed the figure of $0.4, unveiling a bullish investment on the part of traders and investors.
The daily gain is part of the large bullrun prevailing in the cryptocurrency markets. Other major coins have also changed their directions in an upward but have not witnessed bullish pictures like Ripple’s performance. For instance, Bitcoin, the largest coin by market cap, has increased by 2.30% over the day while Ethereum has made a gain of 1.68% over the last 24-hours.
XRP is mostly used by the payment companies in cross-border payments. As the method of digital payments is becoming a new trend amid the Coronavirus pandemic, it has poured a positive effect on those companies dealing with digital payments’ activities.
According to a crypto analyst with a pseudo name “Credible Cryto,” XRP price surge more as it is “just warming up.”
Rise of Other Cryptocurrencies
Not only XRP, but most of the coins have witnessed an outstanding performance in the daily trading session. The price value of Cardano has also seen addition of 14% and the coin is exchanging hands at $0.12. “10x leverage long (from newsletter today) presently up 74%. Just truly breaking out, looking for a retest of the ascending triangle to add more to the position. What a day,” said analyst Scott Melker as he is bullish over Cardano’s price.
Similarly, Stellar’s price value is also up 14% and is trading at $0.09 over the day. The primary cryptocurrency is trading at $18,619 after an increase of 2.30% over the last 24-hours and 17.35% over the last seven days.
The global market cap is standing at $530 Billion after a surge of 3.33% over the day.