Ripple on high demand, XRP up 100% in 14 days
- 24th November 2020
- Posted by: Hakeem
- Category: Crypto
XRP’s trading return to investors has just broken another record, gaining over 100% in two weeks. It has also overtaken the most valuable stablecoin, Tether (USDT), to become the third-largest cryptocurrency with a market cap of $26,112,034,716 USD.
Barely two weeks ago, XRP traded at around $0.23 before it broke above the $0.56 price level, printing a gain of over 100%.
- At the time of drafting this report, XRP traded at $0.575812 USD, with a daily trading volume of $19,587,373,613 USD.
- XRP is up 25.10% in the last 24 hours. It has a circulating supply of 45,348,221,180 XRP coins and a maximum supply of 100,000,000,000 XRP coins.
- XRP was designed by Ripple mainly to perform speedy, less costly, and more scalable alternative transactions for both crypto assets and existing monetary payment platforms like SWIFT.
- Ripple owns more than half of the total supply of XRP. In late 2017, the company vowed not to sell all of its tokens (XRP) at once, keeping up to 55 billion XRP in protected escrow accounts.
- Ripple (XRP) plays a dual role as a payment platform and a currency. The platform is an open-source platform that is created to allow quick and cheap transactions.
What they are saying
Top crypto strategist and trader, Michaël van de Poppe, believes the fast-rising crypto asset is likely due for a correction, as it has gained over 100% in November only.
“We can expect XRP to relatively top out soon unless it flips this $0.50 level. So, if we get momentum like this and we flip there ($0.50), that would definitely argue that we’re going to see a continuation. But, given the significance of the previous range of resistance between $0.27 to $0.30, it would definitely be expected to see a correction towards that region, before we can see an impulse wave.”