The price of XRP boasts a double-digit percentage growth today for the second this week while the broader market resumes supply.
At the time of printing, the third largest cryptocurrency in the world by market capitalization is traded between the stock exchanges at an average price of $ 0.37 – a maximum of six weeks and a 13.60% increase from the price of today's opening of $ 0.33, according to CoinDesk's XRP price index (XPI).
The appreciation of XRP 24 hours a day makes it the best interpreter of the 50 largest cryptocurrencies in the world by market capitalization, the CoinMarketCap data reveal.
Bullish price development for XRP follows more news events concerning the start-up of accounting books Ripple, whose founders created XRP. More recently, the US banking giant PNC became the last to adopt Ripple's xCurrent product to handle cross-border payments, although xCurrent itself does not use XRP.
The XRP is still far from its all-time high, which currently reflects a depreciation of 89 percent compared to the price of $ 3.48 in January (XPI). That said, the recent price action has overcome many technical barriers that have potentially opened the door to greater future growth.
Today the broader market is also green, with all the top 10 cryptocurrencies for market capitalization reporting positive price developments. In particular, Cardano (ADA) and EOS (EOS) have increased by more than 4 percent on a 24-hour basis.
In addition, the total market capitalization of all cryptocurrencies is currently printing north of $ 203 billion, up $ 10 billion from its lowest point yesterday.
Disclosure: The author retains BTC, AST, REQ, OMG, FUEL, 1st and AMP at the time of writing.
XRP Image via Shutterstock