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Ripple XRP News

XRP surges by over 50% in a single day

  • XRP traded in an extremely tight range for 60 straight days
  • A sudden rally took traders by surprise propelling XRP's price above $0.50
  • This crypto resurgence was initiated by institutional capital parked in Bitcoin

The 30% Rally

XRP’s price has been trading in the very tight range of [$0.22-$0.265] for 60 days straight. On a quiet Saturday, it’s price suddenly began surging by well over 50%, helping its price cross the $0.50 mark. The last time XRP traded at $0.50 was in June 2019.

Crypto’s Resurgence

The crypto asset class as a whole witnessed an awakening after the pandemic announcement on March 12th 2020 (Black Thursday). The main reason behind it is macro-based. The initial market reaction was a severe crash, that caused the Federal Reserve to begin unprecedented printing of new USD to the tune of Trillions.

As a result, investors whom were dismissive of Bitcoin were forced to take a second look to protect themselves against incoming inflation. A fixed supply schedule with no human discretionary decisions became very valuable in the eyes of many.

Institutional Capital

This created a wave of institutional capital flowing into the crypto market, more specifically Bitcoin. That was later followed by a massive surge in Bitcoin’s price bringing it $1,000 away from it’s all-time high. This resurgence in Bitcoin interest then propagated into the rest of the market from other retail investors, as they woke up to the fact that the next bull-run may have begun.

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