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XRP Spikes Above $1, Adding 8 Percent Today

News
Fri, 10/01/2021 - 11:48
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Yuri Molchan
XRP rises 8%, following the surge of Bitcoin
XRP Spikes Above $1, Adding 8 Percent Today
Cover image via stock.adobe.com

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As the crypto market is rallying, the sixth-largest cryptocurrency, Ripple-affiliated XRP, has demonstrated a rise by around 8% today, printing two massive green candles in the past hour. Over the past week, XRP has grown by more than 13%.

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Image via TradingView

The XRP coin has surged from the $0.9580 level to the $1.03 price mark on the Binance exchange against USDT, as the flagship cryptocurrency Bitcoin added 10%, soaring to nearly $48,000 from the $44,900 level.

However, this is still 28% lower than XRP's high of $1.41 reached on Sept. 6 and 48% lower than the peak of $1.97 seen by the XRP community on April 14, when Bitcoin hit its new and latest all-time high of $64,800.

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Founder and CEO of DigitalGen Financial Services, Panos Mekras, tweeted that he has never been so bullish on XRP and XRPL as he is now.

Among the reasons for that, he named massive development activity, a gigantic amount of projects being created on XRPL, lots of new features and new use cases.

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About the author

Yuri is a crypto 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 in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.