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.
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.
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.
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.
– #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
— Steven Bull Diep (@DiepSanh) December 3, 2020