XRP surged by 10.25%, marking its largest one-day percentage gain since November 14. By 14:31 ET (19:31 GMT), the cryptocurrency was trading at $0.7790 on the Investing.com Index, lifting its market capitalization to $43.88 billion, representing 2.30% of the total crypto market cap.
Over the past 24 hours, XRP fluctuated between $0.6847 and $0.7790, with a trading volume of $6.96 billion, or 2.92% of the total global crypto volume. The 39.08% increase in value over the past week reflects a strong recovery, although XRP remains 76.32% below its all-time high of $3.29 reached on January 4, 2018.
At its peak, XRP’s market cap had reached $83.44 billion, but the recent rally shows renewed investor interest in the asset. Despite the strong gains, XRP’s value continues to face significant challenges as it works to recover from its all-time highs.
Broader Cryptocurrency Market Trends
Meanwhile, Bitcoin was down 0.81% on the day, trading at $89,498.70, while Ethereum lost 0.66%, with its price at $3,138.96. Bitcoin continues to dominate the market, holding a market cap of $1.77 trillion, or 93.05% of the total cryptocurrency market cap. Ethereum’s market cap stood at $377.89 billion, representing 19.84% of the market’s total value.
The broader market continues to experience mixed performance, with Bitcoin and Ethereum holding their dominant positions while altcoins like XRP see significant volatility.
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