Ripple’s XRP has resumed its winning ways, jumping as much as 20% to 4300 satoshi ($0.0148). In bitcoin terms, this its highest level in 2014 and challenges the 4500 satoshi mark from 52 weeks ago today.
XRP’s performance during the past 48 hours contrasts markedly from that of the broader crypto market. Yet its gains are not solely a by-product of bitcoin (BTC) weakness: BTC has shed at most 8% during the period, meaning that XRP’s dollar-based gains amount to roughly 12%.
XRP’s hot streak, whose beginnings can be traced back to early July, translates into a total gain of 560% since summer lows near 650 satoshi. It has successfully shrugged off a correction that peaked at 25% in late November.
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Volume during the past 24 hours is the equivalent of $1.6 million.
The rise now brings XRP’s market cap to $458 million, nearly one-tenth of that of Bitcoin and nearly four times that of Litecoin.
XRP is still well off of its all-time highs of over 10,000 satoshi reached in September 2013. An eventual return to these levels would move its market cap past the $1 billion mark based on today’s bitcoin prices.