By Hidayat Sultanli
On Dec 02, 2020
Ripple (XRP) continues promising run in recent days and weeks. Price and other records of Ripple become attractive for investors.
Ripple (XRP) is one of the cryptocurrencies that had great attention from the crowd during November and early December. It holds its position in social media amongst Bitcoin and Ethereum. Also, Ripple competes with those currencies in the market capitalization. Tether was the 3rd cryptocurrency for its market cap, and Ripple passed Tether with a high margin in recent weeks and became 3rd largest cryptocurrency for its market cap. The trend will continue if Ripple adds value to its price.
The main reason for the increase in the market cap is a surge in the price of XRP. XRP displayed a bull run and doubled price, and it tries to stabilize the price around $0.60. One reason for price increase could be an overall increase in attention in the crypto field. All of the major cryptocurrencies have become bullish in recent weeks. Crypto bull analysts think that other reason could be as following:
Ripple was one of the highly profitable cryptocurrencies in November. According to Coindesk, Ripple (XRP) has the highest asset return among cryptocurrencies. XRP gained $169.1 during November. Besides Ripple, Stellar’s Lumen also showed massive gains of $153.9 during the 30 days.
According to the trading platform eToro, Ripple was one of the most traded cryptocurrencies in comparison with the previous month. Ripple comes second with the 1.115% change. This proves the interest of investors investing in Ripple.
Given all the facts, we can conclude that November was one of the successful months for Ripple. Many analysts think that price of Ripple XRP will increase to $1 by the end of the year.
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Disclaimer: All information provided in the content is for informational purposes only and should not perceive as an investment, financial, or trading advice. Any investment decision you make should be a personal choice based on financial knowledge, experience, and market research.
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