The third-largest cryptocurrency XRP definitely took advantage of the last week’s rebound that started out with the first days of November.
Even though XRP is currently seeing a decline at the beginning of a new week on November 12th, Ripple’s currency is still seen above the value of 0.50$.
Thanks to the benevolent market trend that took over the market from November 1st to November 7th, XRP is now showing 8% of gains in the course of the last seven days, which means that XRP is the second gainer of the week right after Stellar (XLM) that took almost 13% of gains.
XRP Price Today: “Only” 1 Billion Away from Ethereum (ETH)
XRP appears to be progressing at a flattering pace of growth as even though the crypto is facing some allegations regarding its centralization/decentralization due to the fact that Ripple Labs hold 60% of XRP tokens.
With the last week’s mass rebound that wasn’t properly exploited by some of the top cryptocurrencies like Bitcoin Cash (BCH) which is now dipping heavily, XRP collected over 8% of gains in the course of the last seven days.
Furthermore, XRP is still keeping its value around 0.50$, currently refusing to go below it even though the crypto is seen in a decline.
At this rate of progress, XRP came closer to the market cap of the second-largest currency, Ethereum, now counting over 20 billion dollars in market capitalization in oppose to 21 billion that ETH currently has.
XRP (XRP) Price Today – XRP / USD
Price 24H (%) 0.76%
That means that XRP has come closer to the second spot on the list of all cryptocurrencies.
A portion of credits for the most recent rises in the price of XRP in the last couple of months has to go to the announcement that Ripple Labs will be promoting xRapid as a product of choice to their Ripple Net partners, banks and financial institutions.
xRapid is the only product of Ripple that actually needs XRP, so many are looking forward to seeing XRP closer to mass adoption, although it yet remains to be seen whether these banks would decide to go for it instead of xCurrent.
XRP Evidently Showing Progress in the Market
XRP made it almost to 90% of gains with collecting 87% of rises in the course of the last two months, which matches the time when xRapid was officially announced to be released as a financial product due to promote and push XRP.
Additionally, XRP also took 20% of gains in the last 4 weeks despite the frequent dipping, rising on its YTD charts as well by over 157% against the fiat.
Ripple’s XRP made it to an all-time high of over 3$ back in January but has ever since lost -85% of its value, now traded at 0.50$.
Moreover, the crypto touched a new low back in mid-September, going far below its current value of 0.50$ and going down to touch 0.26$ per one XRP.
However, the crypto was able to recover, representing one of the top gainers of the last week right after Stellar Lumens (XLM).