The value of Ripple surpassed a key milestone Thursday, solidifying an incredible year for the world’s fourth largest cryptocurrency. Ripple’s XRP token rose above $1 on Thursday for the first time, adding more than 41% to $1.004.
Short-term gains are still possible, based on the technical indicators, which show major targets at $1.10, $1.25 and $1.50. Trade volumes over the past 24 hours reached reached $3.9 billion, with South Korea’s Bithumb processing a quarter of all transactions.
Bitfinex, another popular cryptocurrency exchange, processed 10.5% of total transactions on Thursday. Ripple peaked at $1.10 Thursday morning for a market cap of $42 billion, according to CoinMarketCap.
The token has risen 160 times in value this year from an initial price point of less than 1 cent. The latest rally is being fueled in part by rumors that Ripple may soon appear on Coinbase, where it would join the elite company of bitcoin, Ethereum, Litecoin and, more recently, bitcoin cash.
Coinbase, which has more than 13 million live accounts, is one of the world’s most popular crypto exchanges. Extending support to Ripple would likely generate greater buying interest in the token. Read more from hacked.com…
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