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 XRP  traded at $0.607385  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.

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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.

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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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