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The XRP is currently back at its price level before the sudden market crash occurred last Wednesday. The second-level cryptocurrency leads a positive trading day for the broader cryptocurrency market after a difficult period in the last days.
XRP up seven percent
After Wednesday's incident, which saw prices slipping an average of 12 percent, XRP returned above $ 0.50. At its lowest point during price declines, XRP fell to $ 0.43. However, Sunday's second-rate cryptocurrency rose by more than seven percent. At the time of printing, the token is trading at $ 0.51.
This rapid recovery is another reason why Ripple enthusiasts can boast the merits of the token. Recently, both Ripple and the token seem to be one of the main themes of the virtual currency and the technological spectrum of the blockchain with more cases of adoption use.
With XRP that overshadows Ethereum to claim second place on the basis of market capitalization, it becomes the top-notch in the market. The big question now is whether the top altcoin can challenge Bitcoin for the title of the most dominant cryptocurrency on the market. Currently, Bitcoin maintains a 52.5% dominance of the market despite the recent price collapse.
In addition to winning on price charts, there is the sense that XRP is one of the most dominant cryptocurrency discussion points on social media. In a Tweet published on Sunday, Binance's CEO, Changpeng Zhao reported on the strong "shilling XRP basis".
This tweet was in response to the vociferous calls made by XRP enthusiasts to have the token as a base currency on Binance. Zhao's tweet encouraged all these supporters to "put all their shillings under a tweet".
Positive Sunday trading
In addition to XRP, other cryptocurrencies continue to record positive results, albeit minimal, during Sunday trading. Usually, small volumes dominate the weekend market, which means that between Saturday and Sunday there will be inevitable setbacks.
However, the opposite is the case in which many coins have recorded price increases in the last 24-hour trading period. All top-ten coins in addition to Bitcoin Cash are in the green at the time of writing this article.
XRP is the best gainer in the top ten ranking followed by Stellar and Monero. Both earned 4.19% and 3.54% respectively. Bitcoin appears to remain consistently above $ 5,600 with a market capitalization still below $ 100 billion. The total market capitalization of cryptocurrency currently stands at $ 185 billion. At the beginning of the year, this value was over $ 800 billion.
Image courtesy of Shutterstock, Coinmarketcap and Coin360.
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