Crypto Watch: Ripple (XRP) Price Surges 21% in 10 Hours
Ripple solidifies #3 cryptocurrency spot with a $35.7B market cap.
[Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.]
After a general trend of consolidation in the worldwide cryptocurrency market—following drops in the Dow Jones industrial average, Facebook banning cryptocurrency advertising, news of Chinese and South Korean regulation, India pushing toward a crackdown and news of Tether and Bitfinex subpoenas—the market cap is beginning to inch back up after January's lows. One coin in particular made big leaps overnight (PST): Ripple (XRP).
Disclosure: I own some Ripple.
According to CoinMarketCap, Ripple was trading for $0.771540 USD at 9:19pm PST Feb. 8. By 6:44am on Feb. 9, that number was $0.931411—a jump of 21 percent in just 10 hours.
The price is currently $0.916888, 21 percent higher than it was a day ago. This performance is 2-4x higher than other major cryptocurrencies such as Bitcoin, Ethereum, Bitcoin Cash, Litecoin, and Cardano.
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