A lot of people are keeping tabs on the cryptocurrency markets as we speak. That is only to be expected, especially as the Bitcoin price is heading upward once again. Although the current BTC trend is pretty significant, there is good reason to keep an eye on the XRP price as well. Right now, the XRP price sits at just over US$0.265, which represents a 10% growth over the past 24 hours.
It seems all cryptocurrency markets are undergoing a much-needed recovery process at the moment. Most of these currencies have lost a lot of value over the past few weeks, but things are finally starting to pick up again. In particular, the XRP price is seeing a nice uptrend as we speak, pushing the value per XRP back to US$0.267. This sudden 10.47% price gain will not go by unnoticed.
While most cryptocurrency enthusiasts may dislike XRP for various reasons, no one can deny this currency has a fair bit of potential. The year 2017 has been pretty spectacular for Ripple and its native XRP currency, as the value soared to an all-time high of US$0.34 earlier this year. Ever since that time, the value of XRP has taken a real beating, though, but the asset is not done just yet.
More specifically, the XRP market cap has risen to over US$10bn once again, which is good to see. People who bought XRP during the recent dips will certainly be pleased with the way things are going right now. Over the past week, we have seen the XRP price go from US$0.20 all the way up to US$0.279, which was reached shortly before the price started showing signs of a small correction.
Additionally, the XRP trading volume has been picking up nicely. Although this digital asset has seen some fluctuations over the past few weeks, the last 24 hours generated US$687.7 million worth of trades. That is a more-than-respectable number, especially considering that all major cryptocurrencies have seen a reduction in trading volume over the past few weeks.
No one will be surprised to see Korean exchanges leading the charge when it comes to XRP trading. Bithumb, Coinone, and Korbit are the three top trading platforms for XRP right now, which hints that this could just be a pump-and-dump cycle for XRP. Then again, all platforms are pricing XRP at the same value, which goes to show that this is either extremely well-coordinated or simply a natural price progression trend. Only time will tell what the future holds for the XRP price.
In the end, it is good to see cryptocurrency markets showing signs of recovery all of a sudden. With the Bitcoin price moving toward the US$4,600 mark again, most other currencies will benefit from this momentum as well. XRP is definitely the go-to currency right now in this regard, although it is possible that momentum will shift to different altcoins in the coming hours and days. Most major altcoins are undergoing a rough patch right now for no apparent reason.
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