XRP Nears 50 Cents as Price Rises to One-Month Highs

Sebastian Sinclair
Nov 6, 2018 at 01:01 UTC
Updated Nov 6, 2018 at 03:02 UTC
markets

The price of XRP, the world’s third-largest cryptocurrency by market capitalization, jumped 6 percent on Monday, to reach its highest total in 30 days, according to CoinDesk data.

At 15:01 UTC, the cryptocurrency rose to $0.49 cents for the first time since Oct. 8, and was last seen trading at $0.4950, marking roughly a 6.14 percent increase since the day’s open.

At press time, XRP is the biggest winner among the top 10 cryptocurrencies by market capitalization, reporting a seven-day gain of 11.13 percent, according to data from CoinMarketCap.

XRP’s market capitalization rose by more than $2.1 billion over that period, effectively reversing most of the losses over the last four months to reach July levels.

According to CoinDesk data, XRP was up 144 percent year-over-year, having doubled from $0.20. So far in 2018, however, its price has dropped 82 percent from its all-time high of $3.95.

The cryptocurrency is one of a number of networks to see appreciating values during the Monday session. Well-known cryptos including bitcoin and Cardano have seen 24-hour profits of 1-2 percent while BasicAttentionToken (BAT) and Zcash are up 4-8 percent.

The total market capitalization of all cryptocurrencies is up $2.8 billion from its yesterday’s top of $209.8 billion and is currently sitting just below $213 billion, CoinMarketCap data shows.

Disclosure: The author holds USDT at the time of writing.

XRP image via Shutterstock

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This article is intended as a news item to inform our readers of various events and developments that affect, or that might in the future affect, the value of the cryptocurrency described above. The information contained herein is not intended to provide, and it does not provide, sufficient information to form the basis for an investment decision, and you should not rely on this information for that purpose. The information presented herein is accurate only as of its date, and it was not prepared by a research analyst or other investment professional. You should seek additional information regarding the merits and risks of investing in any cryptocurrency before deciding to purchase or sell any such instruments.