In the letter
- The price of XRP hit $ 0.49 around midnight UTC.
- Since last weekend, XRP’s price has increased 66.40%, making it the top performing major cryptocurrency of the week.
- The price of the (now) third largest cryptocurrency by market capitalization then fell to $ 0.42.
The price of XRP hit a high of $ 0.49 today, the highest price since July 2019. The price of the third largest cryptocurrency by market capitalization then fell to $ 0.44 – still a significant increase from yesterday’s price of $ 0.33 .
The price of XRP hit $ 0.49 around midnight UTC. It fell straight CoinMarketCap failed to beat its July 2019 record. Today it hit $ 0.4919 while it hit $ 0.49 in July 201939. Nothing comes around Decrypt.
After the win, traders gave up and XRP fell back to $ 0.41 about two hours later.
Then they tried again, probably still full of adrenaline and hope, and at 02:49 UTC they drove the price back down to $ 0.44. It fluctuated around this level and fell to $ 0.42 on Sunday lunchtime.
Since last weekend, XRP’s price has increased 66.40%, making it the top performing major cryptocurrency of the week.
Meanwhile, global crypto market cap fell slightly 0.15% to $ 528.7 billion from $ 529.5 billion yesterday.
Bitcoin’s price is down 3.45% in the past 24 hours, from $ 18,571 yesterday to $ 17,952 today. Ethereum has performed relatively well, up 3.15% from yesterday’s $ 543 to today’s price of $ 527.
The price of Bitcoin and Ethereum are up 13.02% and 17.28%, respectively.
XRP was developed by Ripple, a nonprofit based in (at least at the time of writing) San Francisco. It is a cryptocurrency preferred by payment institutions. Institutions use XRP for real-time billing and for transferring money between banks at lower costs than the alternatives.
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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.