XRP is still leading the cryptocurrency market with its ongoing bull rally. In just 24 hours, the XRP price has moved significantly against the USD from the $0.037 level to an impressive $0.5523 high. At the same time, Bitcoin, Ethereum, and other cryptocurrencies were recovering against the USD. However, XRP seems to be the altcoin behind this market-wide rally.
XRP Saves the Cryptocurrency Industry With A Massive 20% Surge in 24 Hours
It is no news that the cryptocurrency industry has been facing some bearish pressure due to Bitcoin’s inability to hold key support levels. Ethereum (ETH), the second largest cryptocurrency by market capitalization, has also dropped at a disappointing rate against the USD.
XRP, on the other hand, seems to be thriving amid the chaos and may just be the token that saves the entire industry from reaching new yearly lows. At the time of writing, the price of XRP was $0.5018. The token, which is now 6th on Coinmarketcapital, is up by over 18.47% in the last 24 hours.
The price of XRP isn’t the only thing that is rising. The token’s market capitalization has also increased to $25 billion from $22 billion in just 24 hours. If the bulls can maintain the momentum, XRP may have the chance of rejoining the top five cryptocurrencies on Coinmarketcapital in a few days.
Price of XRP Vs Bitcoin and Ethereum
Over the last seven days, the XRP price has increased by 53.97% against the USD. Meanwhile, Bitcoin is only down by 3.36% and Ethereum is down by 10.26% against the USD. In the last 24 hours, the first and second largest cryptocurrencies by market capitalization have borrowed some momentum from XRP. The Bitcoin price has managed to rise above the $19,103.27 level and the Ethereum price is $1,312.61, a far cry from the pre-merge levels.
How long will the XRP price rally last? It could last for a few days, a few weeks, or even a few months. There is no clear answer, but the short-term indicators are bullish.