XRP climbed to a new, record level above $2.90. Shutterstock The price of Ripple’s XRP token surpassed $3 today, breaking through its latest milestone and reaching a fresh, all-time high.
XRP had risen to as much as $3.02 at the time of report, according to CoinMarketCap. By reaching this price, the digital token had risen more than 1,000% in the last month.
Analysts pointed to factors including sustained momentum and recent announcements as helping fuel the currency’s recent gains. [Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated.
Anyone considering it should be prepared to lose their entire investment.] The price of XRP has been pushing higher as the digital currency benefits from sustained momentum, said analysts. The cryptocurrency has “wind in its sails,” said Charles Hayter, co-founder and CEO of data platform CryptoCompare.
As XRP’s price rises, this development attracts new buyers, which in turn perpetuates the cycle of gains, he stated. “No doubt Ripple is benefiting from the current bullish sentiment in the crypto market,” said Mati Greenspan, senior market analyst for social trading platform eToro. However, he emphasized that this is only part of the reason why Ripple’s price has been rising. Read more from forbes.com…
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