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

Jamie West by Jamie West
November 29, 2020
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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.

jamie xrp news | XRP & Ripple News
Jamie West
Tags: cryptocurrency newsripple news todayRipple pricexrp news predictionxrp news todayXRP price
Jamie West

Jamie West

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

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XRP News – Keeping You Up To Date With All Things XRP & Ripple

In the rapidly evolving world of digital finance, XRP stands out as a pioneering force, reshaping the landscape of cryptocurrency and blockchain technology. As a core product of Ripple Labs, XRP is not just a digital currency; it’s a breakthrough in how we perceive and engage with global financial transactions. This article delves into the essence of XRP, exploring its distinctive features and the reasons behind its growing popularity.

Unmatched Transaction Speed

One of the most compelling attributes of XRP is its unparalleled transaction speed. In a world where traditional banking can take days to process cross-border payments, XRP offers a stark contrast with its ability to settle transactions in mere seconds. This efficiency is a game-changer for both individuals and businesses, ensuring that funds are transferred quickly and seamlessly around the globe.

Low Transaction Costs

Another significant advantage of XRP is its incredibly low transaction fees. Compared to other major cryptocurrencies and traditional banking methods, XRP stands out for its cost-effectiveness. This feature makes it an attractive option for micropayments and regular international transfers, offering a more affordable solution for everyday transactions.

Scalability and Sustainability

Scalability is a critical factor in the cryptocurrency world, and XRP excels in this aspect. Designed to handle a large volume of transactions without compromising speed or cost, XRP is well-equipped to meet the demands of a growing digital economy. Additionally, its consensus protocol is less energy-intensive than the traditional proof-of-work used by many cryptocurrencies, making XRP a more environmentally sustainable choice.

Broadening Financial Access

XRP is not just a tool for efficient transactions; it’s a catalyst for financial inclusion. By simplifying and reducing the cost of cross-border payments, XRP has the potential to open up global markets to individuals and businesses who previously found these transactions prohibitively expensive or complex. This democratization of financial services is a cornerstone of XRP’s vision.

The Ripple Effect

Ripple Labs, the company behind XRP, is continually expanding its partnerships with financial institutions worldwide. These collaborations are not only a testament to the reliability and practicality of XRP but also a driver for its adoption in mainstream finance. As more banks and payment providers integrate XRP into their systems, its impact and relevance continue to grow.

A Community of Innovators

The XRP community is a vibrant and dynamic force, comprising developers, entrepreneurs, and enthusiasts. This community is at the forefront of exploring new use cases for XRP, pushing the boundaries of what’s possible in the realms of digital payments and blockchain technology.

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