XRP surged almost 20% in value on March 11, becoming the top gainer among the 100 largest cryptocurrencies by market capitalization for that day. This price increase marks a significant milestone for the digital asset, considering its recent struggles to break past the $0.7 mark. The rally comes amid a broader market upswing observed over the past two weeks.
XRP, however, has exhibited a unique price action, demonstrating a steady and sustained bullish trend throughout this period. This trend allowed the crypto asset to outperform the overall market at the start of the week.
Read Also: Number of Ethereum Addresses Holding More Than One ETH Attains New All-Time High
XRP’s Impressive Rise
On March 11, XRP reached $0.7421, a level not seen since early November. This uptick represents a considerable gain, particularly considering XRP’s previous struggles. This uncharacteristic growth has generated significant interest within the cryptocurrency ecosystem.
At one point during trading on March 11, XRP’s price jumped as high as 18.31%, according to digital asset researcher Anderson. This surge positioned XRP as the top gainer among the top 100 cryptocurrencies, surpassing Litecoin (17.36%) and Near Protocol (14.03%).
XRP is the highest gainer in the top 100 today. $XRP pic.twitter.com/Pke2CIiS3Q
— Anders 🏁🌏 (@X__Anderson) March 11, 2024
Will a Correction Follow?
While XRP’s performance on March 11 exceeded expectations, the price has undergone a slight correction. The digital asset is trading at $0.6996. However, it is still up 12.86% from the past 7 days, and its trading volume, currently at $6.77 billion, is showing a 100.46% increase over the last 24 hours, suggesting significant investor interest.
This minor pullback is viewed by some experts as a positive development, allowing XRP to consolidate its gains and establish a stronger foundation for a potential future upswing.
We are on twitter, follow us to connect with us :- @TimesTabloid1
— TimesTabloid (@TimesTabloid1) July 15, 2023
Read Also: Cardano Attains New Milestone as Total Transaction Count Crosses 30 Million Mark
XRP’s Unique Trajectory in the Bull Market
XRP’s price action throughout the current bull market cycle has been distinct. While the broader cryptocurrency market experiences a surge, some within the XRP community have expressed reservations regarding the coin’s overall performance. However, several analysts remain optimistic about its future potential.
XRP has always been a late bloomer in the crypto market, and the 2024 bull run could just be a repeat of history. XRP’s recent price surge highlights its potential for significant growth. The sustained bullish trend observed over the past two weeks, coupled with its impressive performance on March 11, suggests a promising future for XRP.
Follow us on Twitter, Facebook, Telegram, and Google News
