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XRP on Track to Reclaim 3rd Spot as Ripple’s Growth Driving Increased Trading Activities

UTC by Benjamin Godfrey · 3 min read
XRP on Track to Reclaim 3rd Spot as Ripple’s Growth Driving Increased Trading Activities
Photo: Unsplash

XRP has reclaimed the position of the fourth largest cryptocurrency after its market capitalization surged to $43,282,760,872.

XRP, the digital cryptocurrency closely associated with blockchain payments firm Ripple Labs is seeing trading activities growth and the best of its days in the past year as its price surged to a 52-week high of $0.9773 at the time of writing according to CoinMarketCap. The current trading amount comes after growth of 37.57% in the past 24 hours and a weekly gain of 64.37%.

XRP remains one of the oldest and the hardest beat digital currencies this year, as the damning court duel between the Securities and Exchange Commission (SEC), and Ripple impacted heavily on its growth. Amid a wave of delistings and trade halts, XRP has had to fight for stability in markets outside of the United States, while Bitcoin (BTC), and other altcoins surged to new highs in the wake of the ongoing bull run.

However, at present, XRP has reclaimed the position of the fourth largest cryptocurrency after its market capitalization surged to $43,282,760,872 ahead of the stablecoin Tether (USDT). The coin’s surge was fueled by an increase in its trading volume which grew 182.56% in the past 24 hours to $26,851,855,943.19. A sustained momentum of this price and growth-related performances has the possibility of helping XRP reclaim the number three position from Binance Coin (BNB).

XRP Trading Activities Bounced as Ripple Growth Outlook

The upsurge in the trading activities of the XRP cryptocurrency was fueled in part by Ripple’s published blog post titled “Creating a More Financially Inclusive and Sustainable Future” that exposes how the project has partnered with “mission-driven financial technology companies, leading universities, NGOs, foundations and social entrepreneurs to create greater economic fairness and opportunity for all.”

The post was complimented by a tweet reaffirming the 40% ownership deal between the payment firm and Asia’s leading cross-border payments specialist Tranglo. The Ripple-Tranglo deal according to the company will “expand the reach of RippleNet’s On-Demand Liquidity (ODL) service – which uses the digital asset XRP to instantly send money and reduce working capital needs.”

The two major media publications by Ripple in recent times are a testament to the growing strides of the firm irrespective of the negative impacts the SEC court case is having on its business in the US. XRP investors are also correspondingly bullish on these developments as they look to get the digital currency back on track and in a bid to push it above its all-time high (ATH) of $3.84 set more than three years ago. At the current pace, a close above the $1 critical level may set the bulls loose with an aggressive buying run that may make this ambitious target a reality.

Altcoin News, Blockchain News, Cryptocurrency news, News, XRP News
Benjamin Godfrey

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.

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