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.
Alex DovbnyaThe 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.
Dan Burgin
Vladislav Sopov