In the past four days, XRP has surged 75% and its trading volume about $1.5 billion. Inching closer to Ethereum’s market cap, XRP has a long way to go in order to reach its ATH. However, not everyone is bullish as shorts on XRP has taken a surge as well.
XRP hikes 75% in 4-days while trading volume surges $1.5 billion
The world’s 3rd largest cryptocurrency is having not just a great day but a great week as it keeps on gaining new heights. In the past 4 days, today has been the most profitable one for the XRP investors. At the time of writing, XRP has been trading at $0.4735 with the 24-hour gains of over 45 percent.
As shown in the chart below, today’s trading range has been between $0.44260 and $0.48000. And it’s not slowing down rather keeps on going skywards.
Looks like this time instead of Bitcoin, XRP is leading the bulls. The entire crypto market is enjoying the gains, but XRP is rallying at another level.
If we take a look at the past 5 days, XRP has been at the lowest at $0.2730 on September 18 and now today’s highest at $0.4800, XRP has taken a jump of 75% in four days.
Along with XRP price, the daily trading volume also takes a hike at $1.77 billion as opposed to $206 million on September 16 according to the Coinmarketcap data. The jump of $1.5 billion in trading volume is a remarkable number.
Also, read: Ripple’s Master Stroke: XRP Success &RippleNet Offering a Unique Advantage in $600B Remittance Market
What’s ahead for XRP?
With a market cap of $18.7 billion, XRP is not far from Ethereum (ETH) at $22 billion. Though Ethereum is also on a rise, if XRP continues its upward momentum at such a pace, it is a possibility, XRP just might takeover Ethereum’s 2nd spot.
Also, recently crypto trader, Bitcoin Macro stated “ETH at $100 or lower” this year while the launch of xRapid, financial giants joining RippleNet and other positive news is keeping the XRP up and running.
Meanwhile, not everyone is speculating a surge in the nearest future for XRP as bearish investors have opened the largest short position ever. Reportedly, more than 39 million XRP have been sold short.
However, XRP still has a long way to go, being down 88% from its all-time high (ATH) in January this year at $3.84.
Do you think XRP is leading the real this time and would moon soon? Or is it just a temporary surge?
The post Ripple Wave Turning into Tsunami, XRP Eyeing the 2nd Spot with 70% Surge appeared first on BitcoinLinux.