XRP Nears 50 Cents as Price Rises to One-Month Highs
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 4 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 92 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
Join 10,000+ traders who come to us to be their eyes on the charts and sign up for Markets Daily, sent Monday-Friday. By signing up, you agree to our terms & conditions and privacy policy
The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.