TL;DR
- Ripple’s XRP price rose to $0.64, with its market cap crossing $35 billion.
The increase coincides with a miner uptrend of the digital asset market.
In the last hour, Ripple‘s XRP price bounced back significantly, increasing by around 4% and touching $0.64. According to CoinGecko’s figures, it is currently trading at roughly $0.63. XRP continues to be among the top gainers in the cryptocurrency market on April 9.
The market value of XRP-associated indicators, including market cap, has also risen logically and surpassed $35 billion for the initial time since March 26.
The trading activity for this coin is increasing significantly, with a daily volume of roughly $2.3 billion. This figure surpasses Binance Coin’s (BNB) volume of about $1.7 billion during the same timeframe.
As the market sees a surge of growth, Ripple’s token is experiencing a comeback. However, while XRP has seen significant price increases, other assets have yet to match its gains.
In the past hour, the price of Cardano‘s ADA has increased by 1.7%, whereas Polkadot‘s DOT has gone up by 1%. The top two cryptocurrencies in terms of market capitalization, Bitcoin (BTC) and Ethereum (ETH), have shown minimal price changes over the last hour.
It’s believed by some that the significant price increase for XRP, known as a bull run, could begin this month. This is due to two major events on the horizon: the upcoming trial between Ripple and the US Securities and Exchange Commission, which may impact XRP‘s classification as a security, and the approaching Bitcoin halving, an event that reduces the reward for mining new Bitcoins, which could influence the overall crypto market.
If the company wins the legal dispute, the value of the asset could increase significantly. On the other hand, the approaching halving event, which typically triggers a strong rally in the cryptocurrency market as a whole, is scheduled for next week’s end.
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2024-04-09 16:18