XRP Soars 30% to $0.4, Highest Price Since Last July

XRP, the fourth largest crypto with a market cap of $16.68 billion, today hit $0.4, its highest price since last July. That's up from $0.286 a day ago, a jump of 30%. 

Overall, the global crypto market cap increased by 3% to $529.5 billion. 

XRP’s price rise is part of this week’s market rally. In the past 24 hours, Bitcoin’s price increased by 1.19% and Ethereum’s by 0.74%. Bitcoin’s price is $18,504, and Ethereum’s price is $509.

In the past week, BTC, XRP and ETH boomed. Bitcoin’s price jumped by over 15%, up from $15,865, and Ethereum’s price recorded an 11% increase, up from $457. XRP’s weekly increase is 48%. 

Coinciding with the rally is the prospect of Covid-19 jabs and the earlier Biden win. 

XRP is a cryptocurrency favored by payments institutions, who use it for real-time settlements and moving money across banks at low costs. 

It is developed by Ripple, a non-profit company based in San Francisco… but not for too long; regulatory crackdowns are making it difficult for Ripple to operate in the US.