XRP continues its recent uptrend today, gaining 6.2% in the last day. It reached a high of $0.177 below falling back slightly to its current value of $0.172.
The cryptocurrency has now been in an uptrend for four days straight, gaining more than 14% since the start of the week and adding $1 billion to its market capitalization in this time. It has also racked up strong gains against Bitcoin (BTC) in the last day, gaining 6.4% to reach 0.000026 BTC/XRP—its highest value in a week.
Despite its bullish price action, XRP has seen its daily trading volume stagnate for the past week, with around $2 billion in XRP changing hands each day on public exchanges.
This positive price action comes despite accusations being made against Ripple CEO Brad Garlinghouse, in a lawsuit, of promoting XRP while liquidating his own stash of coins.
Although much of the cryptocurrency market is in the green today, XRP is outperforming all other cryptocurrencies in the top 10 by market capitalization. However, the cryptocurrency is still down in the short-to-medium term, and has lost 28.4% of its value in the last month as a result of the recent Coronavirus pandemic.
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.