XRP, Up 66% This Week, Dices With $0.50

In brief

XRP’s price hit $0.49 at around midnight UTC.
Since last weekend, XRP’s price has gone up by 66.40%, making it the best-performing major cryptocurrency of the week.
The price of the (now) third-largest cryptocurrency by market cap then fell to $0.42.

XRP’s price today peaked at $0.49, its highest price since July 2019. The price of the third-largest cryptocurrency by market cap then fell to $0.44—still a major increase from yesterday’s $0.33.

XRP’s price hit $0.49 at around midnight UTC. It fell just short of beating its July 2019 record, per metrics site CoinMarketCap. Today, it hit $0.4919, while in July 2019, it hit $0.4939. Nothing gets past Decrypt.

After its brush with victory, traders gave up and XRP collapsed back down to $0.41 about two hours later.

Then they tried again, presumably still high on adrenaline and full of hope, and pushed the price back up to $0.44 at 02:49 UTC. It wavered around that level and has fallen to $0.42 as of midday on Sunday.

Since last weekend, XRP’s price has gone up by 66.40%, making it the best-performing major cryptocurrency of the week.

Meanwhile, the global crypto market cap slightly dipped by 0.15%, down to $528.7 billion from yesterday’s $529.5 billion.

Bitcoin’s price dipped by 3.45% in the past 24 hours, from $18,571 yesterday to $17,952 today. Ethereum’s done relatively well, increasing by 3.15% to today’s price of $527, from yesterday’s $543.

The price of Bitcoin and Ethereum have increased by 13.02% and 17.28%, respectively.

Developed by Ripple, a non-profit based in (at least at the time of writing) San Francisco, XRP is a cryptocurrency favored by payments institutions. Institutions use XRP for real-time settlements and moving money across banks at costs more affordable than the alternatives.