The cryptomarket never seems to get tired of surprising the world. In Friday’s trading session in the middle of the market bull parade, the XRP price hiked as high as 75 per cent above its opening price.
XRP is the native currency of the Ripple network. There were 100 billion XRP created at Ripple’s inception, with no more allowed to be created according to the protocol’s rules. XRP settles payments in 3–4 seconds which is considerably faster than Bitcoin. The current minimum transaction cost required by the network for a standard transaction is 0.00001 XRP, which is considerably less than Bitcoin.
However, the price of XRP spiked to a peak of $0.77 – representing a 75 per cent increase from its opening price of $0.45 on Friday’s bull market session. The investor interest could be seen when the world’s second largest cryptocurrency by market capitalization Ether (ETH) was deposed by XRP, gaining a market capitalization of $23 billion, its highest level since June 10th.
The XRP value was at its highest and passed several layers since the famous bull run of 2017. It has again taken its original position of the world’s third-largest cryptocurrency and cooled off to a price of nearly $0.54. The current XRP price value still represents an 84% depreciation compared to its highest in January of $3.48.
The top 10 cryptocurrencies are rising up the charts and turning green currently posting an average 24-hour gain of 17.67 per cent. The XRP was not alone as ETH, bitcoin cash (BCH), stellar (XLM) and Cardano (ADA) also showed a positive sign.
The total capitalization of cryptocurrency market value stands at $224.1 billion representing a 10 per cent increase which was its highest mark since September 5. The investor interest is rising and the cryptomarket keeps on surprising by the sudden turn of events.