XRP Price Surges Almost 9 Percent As Binance Kicks off XRP/USDT Perpetual Contract: Update

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    The XRP army has finally rejoiced as the price of their favourite coin grew by more than 8 percent and regained the $0.21 level

XRP Price Surges Almost 9 Percent As Binance Kicks off XRP/USDT Perpetual Contract: Update
Cover image via 123rf.com

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The third-largest currency, XRP, has suddenly grown by over 8 percent and regained the psychologically important level of $0.21. The crypto community rejoices, believing that is just a start of the XRP price surge.

XRP 8%
Image via CoinMarketCap

XRP is the top performer

At press time, XRP is the best-performing digital coin in the top-10 list with BSV and Monero following closely: - +6.40  and +6.81 percent, respectively.

The XPR price keeps growing.

XRP top performer
Image via CoinMarketCap

The crypto community is spreading the news on Twitter, and some people are offering an explanation of the coin’s sudden growth.

Image via Twitter

Crypto trader ‘Xago’ says that XRP is forming another 9 candles after 2 consecutive weekly reversal candles. He stated that the same happened with XRP, within 3 weeks he recorded a 23 percent price increase.

Image via Twitter

Ripple CTO compares XRP with iPhone

As U.Today reported earlier, the Ripple CTO, David Schwartz, recently on Twitter compared XRP with an iPhone, saying that XRP investors are not buying the coin only for speculative purposes.

Prior to that, the Ripple CEO Brad Garlinghouse publicly stated that 99 percent of all crypto would go the way of the dodo in the future for lack of utility.

Earlier on Monday, U.Today reported that some traders believe that neither Bitcoin nor XRP will ever reach such a high price mark which would easily allow people to retire with just 1 BTC or 1 XRP.

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Is Monero McAfee's next bet?

On Sunday, January 5, the former antivirus mogul John McAfee went back on the promise to eat his privates publicly should Bitcoin fail to hit $1 mln by December 31, 2020. McAfee stated that Bitcoin is an 'ancient technology'. He typed 'Monero' in one of the comments under his post, which could mean that this is going to be his next bet after Bitcoin.

Binance adds XRP/USDT contract

A possible reason behind the sudden XRP price spike is the fact that just recently Binance announced that it had added an XRP/USDT perpetual contract for margin trading with up to 75-percent leverage. Although, the price started gaining before the news was announced.

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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