XRP Propels as 3rd Largest Cryptocurrency

XRP, the token that dominated the startup of San Francisco’s RippleNet network of Ripple’s open-source, has set a record of price escalation from $1-$3 XRP in a matter of two weeks.

In just 24 hours, XRP’s price has increased as much as 21 percent, peaking at a $3 value today at 17:00 UTC. This came after Ripple hit a short-lived dip of $2, following a $2.85 rise on the 30th of December, as CoinMarketCap reports.

A month ago, cryptocurrency trading was priced at just $0.26. Yet XRP continues to rise 144 percent in only a week, each month seeing an unparalleled rise by over 1,000 percent. This drastic fluctuation has placed XRP as a notable contender for the most valuable cryptocurrency in the leaderboard.

At present, XRP is exceeding Ethereum, the second biggest virtual currency by market cap. In only 24 hours, Ripple has escalated from $17 billion, up to $26 billion. This significant increase surpassed Ethereum by a wide margin in terms of market cap in just a matter of weeks, firmly placing XRP in the third spot of the largest cryptocurrency on December 29, 2017.

Nearly one day after Ripple’s value increase, the cryptocurrency market also exceeded its $667 billion market cap, as it reached a total of more than $713 billion.

On that day, out of 20 cryptocurrencies topping the market cap, 15 are consistently rising, with the exception of Litecoin, Bitcoin, Iota, EOS, Qtum, and Ethereum Classic.