XRP’s Price Has Recovered 20% As Crypto Bounce Back From This Week’s Drop

XRP, the third-largest cryptocurrency with a market cap of $29.14 billion, has recovered from this week’s crash when it hit $0.64 today. This is a 20.62% increase compared to yesterday’s price, according to CoinMarketCap’s data. XRP is now the latest cryptocurrency to recover from the sudden market crash this week.

XRP’s price has increased from last week’s $0.36 by 57%, which made it the third-best performing cryptocurrency for this week, right after Stellar and Horizon. However, XRP was the best performing coin, and it increased the most out of any other cryptocurrency in the previous week.

This increase in price and performance is a newly entered territory for XRP. It has only been five days since it passed $0.50 for the first time since it last peaked in 2018. And in these last days, its price has been experiencing numerous up and downs.

On November 24, XRP’s price has nearly hit $1 but immediately crashed by 20% on the next day. This downward trajectory had continued the day after, November 26, when it dropped below $0.50 at 16:44 UTC. It recovered and regained strength soon after and rose again above $0.50 at 20:14 UTC.

Bitcoin, currently the largest cryptocurrency by market cap, increased by 5.67% to today’s price of @$17,674 in the past 24 hours. This week, Bitcoin’s price experienced a 5.43% drop despite almost reaching its all-time high as well.

Meanwhile, Ethereum, currently the second-largest cryptocurrency, has experienced an increase of 6.22% to $539. It is close to its weekly increase of 1.36%. This is a promising increase for the cryptocurrency.

The market for cryptocurrencies has experienced a volatile week, and they have slightly recovered from the huge nose dive that their prices have gone through. The market cap for cryptocurrencies has increased by 7.15% over the past 24 hours, which means that its overall market cap has reached $527.83 billion.

S&P 500’s fall from its all-time high and the Dow Jones’s retreat below 30,000 basis points also happened at the same time as the crash that the market for cryptocurrencies has experienced earlier in the week.

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Jamie West

Jamie is an XRP veteran & keeps his finger on the pulse when it comes to all things crypto.

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