The cryptocurrency space might have seen a remarkable surge in the first half of the year, but that was not the case with Ripple (XRP), the world’s third-biggest cryptocurrency by market cap.
Ripple’s Rally a Boost for the Crypto Market
As a matter of fact, XRP’s poor performance during the height of the Bitcoin rally prooved to be a huge bone of contention in the XRP community. However, that problem might be coming to an end as the XRP token has experienced a massive surge today, and over the course of the past 24 hours, it has gained as much as 15% at $0.297.
Over the past two weeks, XRP has been in the eye of a storm as many in the community accused Ripple, the company that holds billion of XRP tokens, of dumping it indiscriminately. It has also been accused that the dumping depressed the price, and only this week, an influential Twitter account urged the community to instead go for an XRP fork. It goes without saying that these have been trying times for both the San Francisco-based company, which is pretty much in charge of the token’s future, and the community.
There are experts who believe that this week could prove to be a crucial one for a lot of altcoins, including XRP, Ethereum, Litecoin, and Bitcoin Cash. Litecoin has been in one of its most impressive rallies this year so far since Friday, and experts believe that the token could eventually touch $85 in the coming days.
On the other hand, many well-known Bitcoin bulls are predicting another significant rally for BTC and if that happens, then both XRP, as well as Ethereum, should rise as well. These are very interesting times for XRP since the product is currently being tested by money transfer giant MoneyGram and if Ripple can sign up more partners, then the cryptocurrency could expect to see some positive price action.
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