Market Analysis

XRP Surges By 8% In A Surprise Bull Run

from The Bitcoin News 5 years ago 0 0 609

The new hike up allowed XRP to climb back to $0.446322. While this is still low when compared to its highest point in the last week ($0.52), the coin still seems to be well on its way to recovery. In fact, many believe that XRP has found a new bottom, one that is significantly higher than the last one. Most of this new success can be traced back to a price surge that Ripple has had recently when it even managed to briefly overthrow Ethereum as the second largest coin by market cap.

Despite its drop since then, XRP still remains one of the coins with the strongest growth in the last month. While the market is still far from stable, and a lot of coins have been subjected to high volatility, the constant comebacks after brief price drops are seen as a positive thing.

Stellar follows XRP: Large gains bring new attention to XLM

Another interesting development can be seen with Stellar, which is considered by most to be one of the largest competitors of XRP. Stellar (XLM) has also grown by a significant amount, with its current price being at $0.225114, after a 5.28% increase in the last 24 hours.

Stellar’s goal is similar to that of XRP — to allow faster and cheaper cross-border payments. However, while Ripple has chosen to offer its services to banks and financial institutions, Stellar stands out as the coin which focuses on providing these benefits to individual investors.

Recently, Stellar has had a string of good news regarding listings and partnerships. As such, the coin started its climb up even during the last week’s price drop. This has caused many to pay closer attention to this crypto, as the coin’s new moves promised a long-awaited comeback.

For now, almost the entire crypto market is experiencing significant gains. Many believe that this may be a start of the real bull run, one that has been expected since January 2018. Whether or not this is true still remains to be seen. For now, investors seem to be extremely thrilled with the new development.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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