The XRP price (XRP/USD) has gained over 7% in the past 24 hours, outperforming most major digital coins.
The third-largest digital currency on the market experienced some positive price action yesterday, as it enjoyed slow but steady advance throughout the session. This allowed the coin to strengthen its position above the $0.25 mark that had come under significant pressure in some of last week’s earlier sessions. Having opened the session at $0.253, XRP finished the day at $0.257, which was also its highest price level for the session. The coin had also closed the Saturday session at an intraday high.
XRP’s advance accelerated drastically in today’s early trading, when the coin surged past the $0.26 mark. The subsequent rally resulted in XRP hitting a two-week high of $0.276 during the early afternoon session. While the coin has since pulled back to lower levels, it has remained well above the $0.27 level, according to data from digital currency tracker Coinmarketcap.
The price jump has coincided with a notable uptick in trading volume. Recent market data shows that around $1.65 billion worth of XRP tokens have changed hands over the past 24 hours. This is well above the $965 million of trading volume that were generated during yesterday’s session.
The surge has allowed XRP to outpace its major rivals, most of which have seen solid gains today despite disappointing early trading. For example, the leading cryptocurrency, Bitcoin, has managed to retake the $8,000 mark and is currently trading near $8,200.
“Bitcoin continued to test recent support levels over the weekend but as of this morning, the entire crypto market seems to be making a positive push,” eToro senior market analyst Mati Greenspan said in a client note, as quoted by Forbes.
Here we can see that XRP, IOTA, and TRX are outpacing the rest of the markets on percentage gain today. All three of which seem to have seen significant technical progress recently,” he added.
In today’s trading, the XRP price stood at $0.274, as of 15:23 BST. The digital currency has gained 7.7% in the past 24 hours. Its total market cap currently stands at $11.8 billion.
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