In the letter
- The price of XRP has increased by 30% over the past day.
- The weekly increase is 48%.
- Simultaneously with this week’s rally, there is a prospect of a Covid-19 surge and Biden’s success in the US election.
XRP, the fourth largest Crypto With a market cap of $ 16.68 billion, it hit $ 0.4 today, its highest price since last July. That’s up 30% from $ 0.286 a day ago.
Overall, global market capitalization for crypto rose 3% to $ 529.5 billion.
In the past week, BTC, XRP and ETH all boomed. The price of Bitcoin rose over 15% from $ 15,865 and the price of Ethereum rose 11% from $ 457. The weekly increase in XRP is 48%.
Coinciding with the rally is the prospect Covid-19 bumps and the previous Biden win.
XRP is a Cryptocurrency preferred by payment institutions that use it for real-time billing and move money between banks at low cost.
It is developed by Ripple, a not-for-profit based in San Francisco … but not for too long;; government action makes it difficult Ripple to operate in the US.
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The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment or other advice.