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XRP Breaks Free With Double-Digit Gains — Flips USDT in Market Shake-Up
Ripple’s native token, XRP, has made a stunning comeback with double-digit gains over the past few days. In an unexpected market shake-up, XRP has even surpassed Tether’s USDT in terms of market capitalization and is now back in the third spot.
XRPUSD. Source: TradingView
The graph above clearly demonstrates the price stagnation XRP had to endure for the past month or so. Its upper boundary was at around $2.6, while it also tested the lower one at $1.9 during the darkest hours of the war between Israel and Iran. Nevertheless, each attempt met immediate rejections, and the cryptocurrency was pushed south to a tight range between $2.2 and $2.3.
However, multiple signs indicated that the consolidation could be coming to an end, and one analyst even warned that most traders will miss the breakout. Such a price surge indeed started to materialize in the past few days, and especially today. XRP has been among the top performers on a daily scale, having surged by 20% at one point and coming close to $3 on most exchanges. Although it was stopped there and now sits just under $2.8, it’s still up by over 12% since yesterday.
Its market cap has spiked above $160 billion for the first time in months, and XRP has now become the third-largest cryptocurrency, having overtaken Tether’s USDT. The move north was quickly picked up by the XRP Army, many of whom praised the asset’s performance and provided some bullish (and outrageous) predictions.
“$XRP at $2,500 isn’t just a dream. -Because a pump like 2017 would easily clear $2,000,” one user tweeted.
As for what this means, only time will tell if XRP can continue its remarkable run or will it fall back down to reality check.
Source: cryptopotato.com
