XRP Gains Massively At 12%, Trades At 74 Cents

After a very rocky start to the year, cryptocurrency price watchers have recently noticed the beginnings of a promising recovery.

iexclusive News Nigeria reports that this week saw a rise in the prices of many crypto assets, including XRP.

The market capitalization of cryptocurrency has risen to $1.9 trillion, which is particularly significant.

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According to the FTX exchange, XRP was trading at $0.74, up 12% as the eighth most valuable cryptocurrency by market capitalization ($35.5 Billion).

If selling pressure increases, the 200 four-hour Simple Moving Average (SMA) at $0.69 may provide immediate support.

There is a maximum supply of 100,000,000,000 XRP coins. There are 47,832,461,678 XRP coins in circulation.

A growing number of investors are holding Ripple’s token.

Ripple is currently used by large banks such as Bank of America, American Express, and Santander to conduct transactions on the Ripple network.

In addition to funding Ripple network transactions, XRP can be invested in and exchanged for other cryptocurrencies.

Ripple, as an alternative to crypto leaders such as Bitcoin (BTC) and Ethereum (ETH), has a few distinguishing characteristics.

Ripple’s data is gathered and compared across servers using unique node lists for implementing sets and maps, in addition to using blockchain for consensus.

However, it is important to note that the prices of cryptocurrencies fluctuate depending on a variety of factors, and Ripple is no exception.

Investor enthusiasm is influenced by a variety of factors, including overall market sentiment.