The third most valuable crypto by market value, Ripple (XRP), is lately on a rebound, as global investors intensify their buying spree on XRP.
- Data seen by Nairametrics reveal that XRPÂ traded at $0.607385Â gaining 3.8% on the day.
- Such gains have pushed Ripple’s digital asset to a market value of $27.5 billion. At its highest level, XRP’s had a market capitalization value of $31.584 billion.
- The price range of the fast-rising crypto has been around $0.58533 -$0.61624 in the previous 24 hours.
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What you should know: In the past one week, profit-taking has been observed in the crypto market taking to account, XRP lost about 2.63% in value. The daily trading volume of XRP stood at $6.80Billion or over 6% of the total daily volume of all digital assets.
At its present price, XRP has dropped above 80% from its all-time high of $3.29 set two years ago.
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Meanwhile, in a recent interview with Barron’s and Grayscale, Breanne Madigan, the head of global institutional markets at Ripple spoke on the recent surge of activity by institutional investors entering the crypto-verse;
“So for people who are newer coming in, take a look at a few individual crypto assets. Understand their utility, their core value proposition, what problem are they solving. Look at the total addressable market there.
READ: Ripple drops over 10% amid profit-taking
For example, in payments because of trapped capital, there are trillions and trillions of dollars of the market opportunity that XRP as a digital asset is solving for. So that’s a huge addressable market. So there you would see a driver for value creation, Madigan said.
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– #XRP is solving a real problem
– We are in a super early stage while it’s promising to see huge institutional investors and large fortune 500 companies putting their treasury into cryptos
Breanne Madigan, Ripple
December 3, 2020 pic.twitter.com/PJ5VnH9TyZ— Bull Diep (@DiepSanh) December 3, 2020
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