Today was a good day for most cryptocurrencies, but Ripple’s XRP performed especially well, experiencing a notable upside. Currently, its price is close to $1 – $0.919, to be more specific – meaning that it climbed with up to 20% since the start of the day, as well as almost 25% over the past day, according to Forbes.
The market surpassed a total value of $400 billion for the first time, since earlier this week, when most cryptocurrencies seemed to crash. Currently, 48 of the top 50 are going up.
XRP is all the way up
Back to Ripple, XRP’s gains managed to surpass those of many top digital virtual assets. For example, Ether and Litecoin were up with 5.8%, respectively 6.3% over the past 24 hours.
“With the recent news of bans and a market wide selloff, we saw Ripple take an exaggerated pullback,” said CEO of Noble Alternative Investments, Charles Thorngren.
He also characterized Ripple as the “wave of the future” when it comes to transactions between institutions.
“It makes sense that we see XRP rebound stronger that the other options available,” he added.
And it looks like he’s not the only one sharing this opinion! Many investors are observing that some of the most important cryptocurrencies, as well as smaller coins, are starting to recover after the past weeks’ drops.
Recently, Ripple prices fell more than 80% over a few days, raising serious questions about the coin’s future, as well as the market’s overall potential.
A lot of optimism among investors and traders
Still, after these last two days, analysts are optimistic and offer positive outlooks for XRP.
Ripple has had several important positive news regarding the financial institutions testing its technology, said cryptocurrency trader and investor Marius Rupsys.
“Since sentiment is getting more favorable, traders are reevaluating positions and adding to their favorite coins.”
Over the past months, important names in the financial industry, like MoneyGram or Santander, announced that they’re planning to use Ripple’s technology for transactions. Also, rumors say that more companies from this domain will make similar announcements soon.