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XRP Near to $3: All-time high back in sigh

XRP continues to amaze the crypto world: Ripple’s cryptocurrency has risen by almost 11% in one hour and is now almost 42% higher than 24 hours ago. An unprecedented price increase, especially for one of the largest cryptocurrencies in the world with a market cap of over $150 billion.

XRP is unstoppable

XRP is again demanding all the attention of crypto investors today, as it has been doing for weeks. This morning you could already read in the Ripple news that the price had risen by 30% in 24 hours, but that has now been increased again.

In the dead of night, the XRP price reached a peak of almost $2.49. XRP was able to hold around this level until around 9am. But at that time, Bitcoin fell from $96,000 to $95,000, which also affected XRP.
Unlike most other altcoins, XRP performed strongly. The price dropped to $2.25, but quickly found its way up.

By 3:30 PM, investors were already paying $1.45 for one XRP and then, out of nowhere, the price took a huge leap. In roughly 45 minutes, XRP rose by almost 11% to a peak of $2.71, as seen in the chart below.

At the same time, the Bitcoin price shot up sharply to $97,000. With that, Bitcoin has almost erased its entire decline from today.
This morning we already wrote that the increase in the price of XRP has to do with several factors. For example, an approval from the New York Department of Financial Services (NYDFS) for Ripple’s RLUSD stablecoin seems imminent. Furthermore, XRP has been benefiting for weeks from the growing optimism for its own listed fund in the United States. And this has increased even further today thanks to a new ETF application from WisdomTree. Finally, the announced resignation of Gary Gensler, the chairman of the US Securities and Exchange Commission (SEC). He and his committee dragged Ripple to court at the end of 2020.

Pressure off the boiler: 422% increase in 1 month

Since last night, XRP can call itself the third largest cryptocurrency on the market. Tether’s USDT stablecoin was overtaken in terms of market capitalization. Last weekend, Solana (SOL) was also left behind.
Since the legal dispute with the SEC, a dark cloud has hung over the XRP price. But investors who remained patient and did not lose faith have been rewarded greatly over the past month.

XRP has risen by a staggering 422%. Who would have dared to dream a month ago that the $3 barrier would be within reach again? Even the all-time high – from January 2018 (!) – is now ‘only’ 42% away. The record is $3.84.