Ripple’s XRP on a grand slam win, gains 20%

The third most valuable crypto, XRP, is fast becoming investors’ delight.

At the time of writing, XRP traded at $0.57077, gaining 20.12% on the day. It was the largest daily percentage gain seen since 2017.

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• Such gain has pushed XRP’s market value to $26Billion or 4.15% of the total cryptocurrency market capitalization. At its highest, XRP’s market capitalization was $32Billion.
• XRP had traded in a range of $0.56028 to $0.58249 in the previous twenty-four hours.
• However, in the last one week, XRP has depreciated by 3.25%. The volume of XRP traded in for the day to the time of writing was $16Billion or 8.79% of the total volume of all cryptocurrencies. It has traded in a range of $0.4399 to $0.5852 in the past 7 days.

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At its current price, XRP is still down 82.65% from its all-time high of $3.29 set on January 4, 2018.

Wealthy investors seem to be upping their game in the last lap of the year as regards moving XRP, the third most valuable crypto by market value, as lately seen by Nairametrics.

Many crypto experts anticipate that the movement of such cryptos are coming from major stakeholders of Ripple, on the bias that some of these wallets contain a significant amount of XRP.

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What you should know

XRP was designed by Ripple mainly to perform speedy, less costly, and more scalable alternative transactions for both crypto assets and existing monetary payment platforms like SWIFT.

• Ripple owns more than half of the total supply of XRP. In late 2017, the company vowed not to sell all of its tokens (XRP) at once, keeping up to 55 billion XRP in protected escrow accounts.
• Ripple (XRP) plays a dual role as a payment platform and a currency. The platform is an open-source platform that is created to allow quick and cheap transactions.

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