Why Did Ripple (XRP) Price Rise Today?

[BitTorrent]

Why Did ripple (XRP) Price Rise Today?


TL;DR

• Ripple‘s XRP price rose to $0.64 and its market capitalization exceeded $35 billion.
• The increase coincides with the bullish trend of miners in the digital asset market.

The price of Ripple’s XRP has experienced a significant revival in the past hour, rising by 4% and reaching $0.64. It is currently trading at around $0.63 (according to CoinGecko data) and remains one of the top performers in the cryptocurrency market today (April 9).

XRP Price, Source: CoinGecko

Other XRP-related metrics, such as market cap, also logically headed north, surpassing the $35 billion level for the first time since March 26.

Daily transaction volume also increased, reaching approximately 2.3 billion dollars. The coin surpassed Binance Coin (BNB), which generated approximately $1.7 billion in revenue in the same period.

The resurgence of the Ripple token coincides with a green wave across the entire market, but gains for most assets lag behind those recorded by XRP.

Cardano‘s ADA is up 1.7% in the last hour, while Polkadot (DOT) is up 1%. The leading cryptocurrencies by market cap – Bitcoin (BTC) and Ethereum (ETH) – have shown little to no significant movements over the past 60 minutes.

Some think that XRP’s real bull run could begin this month due to the upcoming hearing between Ripple and the US Securities and Exchange Commission and the upcoming BTC halving.

While the resolution of the legal battle may increase the price of the asset (in case the company achieves a decisive victory), the halving event (scheduled for the end of next week) has historically heralded a huge rally. the entire cryptocurrency industry.

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