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The price of Ripple (XRP / USD) exceeded the barrier of $ 0.55 for the first time in over a month after gaining more than 17% in the last 24 hours.
The digital currency had a quiet morning session, trading around the $ 0.46 mark. The situation changed in the afternoon, with Ripple reporting a sharp upturn that brought its price to around $ 0.49. This kicked off an even stronger rally that helped Ripple's price hit the $ 0.50 mark on Tuesday.
After closing Monday's session at $ 0.497, Ripple exceeded $ 0.50 in the early hours of today's session. Since then, the currency has continued with a steady upward trajectory, which allowed it to exceed the $ 0.55 level for the first time since October 2nd. The currency has slowed its progress in the most recent exchanges. At the time of writing, Ripple's price was around the $ 0.55 mark, according to data from the Coinmarketcap digital tracker.
The XRP is outperforming the broader cryptocurrency market by a large margin, although other major currencies, such as Cardano (ADA), Stellar (XLM) and EOS, have also posted significant gains over the last 24 hours. However, their progress has been overshadowed by the Ripple price rally, which led to a gain of over 17% for the digital currency. The rally allowed XRP to briefly exceed Ethereum (ETH) as the second digital currency in the world.
The rally was supported by significant market activity. Recent market data shows that over $ 1 billion of XRP has changed in the last 24 hours, with the main cryptographic exchanges such as Binance, Bitbank and OKEx among the preferred XRP trading destinations.
In today's trading, Ripple's price stood at $ 0.544, at 10:25 GMT. The currency has gained 17.5% in the last 24 hours.
For more information on how to buy and trade Ripple, see our comprehensive Ripple guide.
