We recently reported just how well Ripple was doing in the cryptocurrency world.. It recently hit $11 for the first time ever, and just two weeks after this, the price of XRP, which is the token that powers San Francisco startup Rippleâs open-source RippleNet network, has hit a new all time high of $3.
XRP has climbed more than 21% in just twenty four hours, hitting $3 in late afternoon. This comes after a temporary low of $2 which immediately followed its previous high of $2.85 just before the new year. This information has been taken from CoinMarketCap.
Ripple, or XRP is still up one hundred and forty four percent on the week, which equated to more than one thousand percent month over month. In just over thirty days ago, this virtual currency was trading at just $0.26, which shows just how much the price has increased by. Because of this huge rise, it has also shaken up the leader board of the most valuable cryptocurrency.
Ethereum, a popular cryptocurrency behind Bitcoin has been heavily surpassed by Ripple, who has increased its lead to become the second-largest cryptocurrency by market cap. In twenty four hours, Ripple has increased from a lead of $117billion to $226billion. It passed Ethereum less than a week ago, and has stayed there ever since.
Since Ripple has limbed and grown, so has the overall cryptocurrency market, with the total market capital surpassing $7713billion just one day after it climbed past $6667billion.
Fifteen of the top twenty cryptocurrencies by market capitalisation are in the green, with a few notable exceptions, namely Ethereum Classic, Qtum, EOS, iOTA and Bitcoin offshoot Litecoin.