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XRP Jumps 10 Percent in Minutes as Bitcoin Stumbles

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Thu, 02/04/2021 - 18:40
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Alex Dovbnya
XRP's recovery is gaining pace with a 10 percent uptick
XRP Jumps 10 Percent in Minutes as Bitcoin Stumbles
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The XRP cryptocurrency rallied over 10 percent in less than an hour earlier today, reaching a daily high of $0.429 at 4:25 p.m. on the Binance exchange.          

At press time, it is the best-performing cryptocurrency in the CoinMarketCap top 10 after once again surpassing Polkadot (DOT).  

XRP is finally witnessing a relief rally after careening over 50 percent on Feb. 1 on the same day it saw triple-digit gains due to apparent market manipulations.   

XRP
Image by tradingview.com

Related
Japanese Financial Giant SBI Group Introduces XRP Lending

The broader market stumbles

Red-hot XRP is quite a contrast to the rest of the market that is currently in the middle of a minor pullback.

Bitcoin, the largest cryptocurrency, is sitting just above $37,000 after dipping to at $36,197 at 3:23 p.m. on the Bitstamp exchange.  

Ethereum is also trading well off its new all-time high of $1,695 that was reached earlier today.

Even Dogecoin, which benefited from Elon Musk’s Twitter comeback, has now shed a substantial portion of its gains, currently changing hands at $0.44.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.