Not much is happening in the world of cryptocurrency right now, even though we have seen a good amount of bullish momentum yesterday. Things are a bit quieter today, although the XRP price is still doing some impressive things as we speak. Thanks to another 4.58% increase in the past 24 hours, things look pretty solid. At this rate, it takes little effort to push the XRP price to $0.30. XRP Price Keeps Rising Sharply No one can deny the XRP price has seen some significant action throughout 2017. The first 10 months of this year have been pretty positive
Not much is happening in the world of cryptocurrency right now, even though we have seen a good amount of bullish momentum yesterday. Things are a bit quieter today, although the XRP price is still doing some impressive things as we speak. Thanks to another 4.58% increase in the past 24 hours, things look pretty solid. At this rate, it takes little effort to push the XRP price to $0.30.
XRP Price Keeps Rising Sharply
No one can deny the XRP price has seen some significant action throughout 2017. The first 10 months of this year have been pretty positive for Ripple’s native asset as a whole, even though the all-time high value per XRP is still very far away as we speak. That doesn’t mean XRp won’t set a new all-time high this year, though, but it is very difficult to gauge how things will evolve right now.
With an XRP price of $0.2637, the native Ripple token is on the right track once again. It seems to be only a matter of time until we see the XRP price rise to $0.30 again, although this next leg up will not be easy by any means. After all, there are still 38.6 billion tokens in circulation, and a lot of those reside in exchange wallets as of right now. This also means the market is subject to severe speculation and price manipulation, which shouldn’t really surprise anyone these days.
One has to admit things are looking good for the XRP price as of right now. With the value going up by another 3.86% over the past 24 hours, XRP is the only currency / token to note any big gains over the past 24 hours. It seems most markets are at a standstill right now, even though that situation will come to change sooner or later. When all altcoins start to recover, the real price action will begin.
For the time being, the XRP price is in a good place and worth keeping an eye on. It also has solid trading volume, as it is second behind only Bitcoin in this regard. Contrary to what some people would expect, the XRP volume is slightly higher compared to Ethereum, and about $100m higher than Bitcoin Cash’s. Pretty impressive numbers for a digital asset so many people offhandedly dismiss as being a “scam” and “central bank currency”.
Looking over the XRP exchanges ranked by trading volume, we see some interesting patterns from as we speak. Bithumb, Coinone, and Korbit all dominate the ranking right now, reaffirming the strong demand for XRP in South Korea. This could indicate there is some pump-a dump action taking place right now, but it is still too early to say for sure. There is some solid trading action in the XRP/USD and XRP/EUR markets as well, which is good to see.
In the end, it is unclear how the XRP price will evolve in the coming days. Right now, things are looking pretty good, but that doesn’t necessarily mean things will continue along the same path for an extended period of time. Similar to most other altcoins, XRP remains subject to some fluctuations which will not be overcome all that easily. An interesting future lies ahead, though, as a lot of people still predict XRP will hit $1 at some point this year.