Ripple leads in crypto market recovery with XRP surge

Ripple leads in crypto market recovery with XRP surge

The crypto market is making gains for another day with altcoins dominating once again. Today, it is XRP making double digits.

The crypto market is having a seven-week high today with A total market capitalization touching US$226 billion[AU$345.58 billion] for the first time since mid-March.

Around $4 billion has been added over the past 24 days as prices slowly and steadily grind higher.

Ripple’s XRP token is leading the charge today with a 10% pump taking it to reach an intraday high of $0.218.

XRP has now almost fully recovered from the March Covid-crash but is still heavily down from its lofty highs a couple of years ago.

A Japanese banking partnership with a focus on digital payments and a mention of the Ripple token appears to be driving momentum today.

Bitcoin has also reached a new monthly high touching $7,880 a couple of hours ago during Asian trading.

This is exactly where the 200-day moving average lies so a push above that could result in a rapid move back to $8,000.

Ethereum has also reclaimed $200 which is serving as a heavy resistance. Other altcoins performing well today include Litecoin and Tron.

Aside from XRP, gains are marginal but green is the dominant color once again.

Image courtesy of manfredrichter/Pixabay

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