Ripple-affiliated cryptocurrency XRP is finally catching up with the broader cryptocurrency rally. Earlier today, it soared over 38 percent to reach $0.87 on the Bitstamp exchange, its highest level since May 6, 2018.
XRP is currently up 280 percent year-to-date in spite of pretty every major cryptocurrency exchange delisting it or suspending its trading in the United States due to Ripple's legal predicament with the SEC. After clearing key technical hurdles, XRP is now only 14 percent away from touching $1.
According to CoinMarketCap data, the token has now surpassed Cardano, becoming the sixth largest cryptocurrency by market capitalization. Because of XRP's rally, the total value of all cryptocurrencies has surpassed $2 trillion for the first time.
Bitcoin is currently trading just below $60,000.
Arman Shirinyan
Yuri Molchan