A lot of things are happening in the world of cryptocurrency as we speak. With pretty solid gains over the past few days, it has become evident this momentum will not slow down anytime soon. In fact, the daily gains are getting bigger and better, especially where the XRP price is concerned. Despite all of the hate for this currency among cryptocurrency users, the value per XRP has risen to $0.875 once again.
XRP Price Surpasses $0.85
It was only yesterday we saw the XRP price blaze past $0.7 for the first time in a few weeks. Whereas most of the enthusiasts assumed that would warrant a temporary retrace, it has not happened just yet. Instead, we get the opposite effect, which is not entirely that surprising either. Thanks to more solid gains, the value per XRP has now risen to just over $0.875.
This is another spectacular 21.17% gain over the past 24 hours. It is evident the infectious positive momentum in Bitcoin is spilling over onto the altcoins, which is not necessarily a bad thing by any means. If this trend keeps up, there’s no reason to think the XRP price won’t reach $1 again in the coming days. Then again, the weekend is almost upon us, and we may see some crazy action in the opposite direction as well.
It is always interesting to see how alternative currencies such as XRP behave compared to Bitcoin. While both markets are on the rise, XRP successfully gained another 16.94% over Bitcoin in the past 24 hours. A solid trend which has been present for several days now, and it seems that situation will continue for quite some time to come.
As is usually the case when the prices go up, the trading volume rises accordingly. In the case of XRP, its 24-hour trading volume has been pretty impressive and is on track tor each $2bn later today. Right now, there is $1.841bn in volume, which is a nice increase compared to the numbers we saw just yesterday. The bulls are firmly in control of this market, for the time being, which is a good sign.
South Korea and Japan continue to dominate the XRP trading segment as we speak. Bithumb is still in the lead, and its gap over Bitbank hasn’t shrunk by any means. We do see Upbit in second place today, whereas it was in third position yesterday. In the entire top five, there are four fiat currency pairs for XRP, which seems to indicate the best has yet to come for this altcoin.
For the time being, it seems we will hit an XRP price of $0.9 without too many issues. Anything above that value, however, is up for grabs. The bears will eventually begin pushing all prices back down, but it is still too early to tell if these efforts can be successful. The way things look right now, it will be pretty difficult to keep the XRP price from surpassing $1 at some point over the weekend.