Cryptocurrency traders are likely keeping a close eye on Ripple news as the price of XRP climbs higher on Tuesday.
Here’s what investors need to know about the most recent Ripple news.
- Ripple is a networking company that allows users to transfer funds around the world.
- The company offers its own cryptocurrency, XRP, for users to make use of.
- XRP has been gaining strength over this last week and that growth is continuing today.
- The climb initially started on Nov. 2 after the company experienced a dip.
- Since then, the digital currency has seen massive gains increase it from 23 cents to 30 cents today.
- If this trend continues, it means that XRP may finally return to its high of 34 cents earlier this year.
- That high happened in February before the cryptocurrency, along with just about everything else, took a dive with the novel coronavirus pandemic getting into full swing.
- XPR was hit especially hard at that time and has been in recovering since hitting a low of 15 cents in March.
- It appears that the jump in XRP has to do with a similar increase for bitcoin.
- The cryptocurrency has been on the rise of late and just broke $17,000 earlier today.
- That’s worth noting as bitcoin hasn’t been worth that much since December 2017.
- It’s possible that both cryptocurrencies will continue to rise higher as markets are still recovering from the coronavirus.
XRP was up 1.5% as of Tuesday afternoon.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.