Why XRP Has Chalked Up A Parabolic Rally In Recent Days After A Brutal Multi-Year Downtrend4
Crypto enthusiasts are paying extra attention to Ripple’s XRP after the cryptocurrency seemingly woke from a three-year slumber. The third-largest cryptocurrency climbed past resistance barriers with relative ease and surged in the past few days. It went from trading at a low of around $0.30 last week to hit a new 2020 high of $0.92 in the early hours of Tuesday.
XRP has, however, stabilized at $0.68 at press time with 34.53% gains on the day. The cryptocurrency is up more than 110% over the past seven days.
Three key reasons are behind XRP’s surge to levels not seen since 2018. The main factor’s boosting XRP’s rally is Ripple XRP buybacks, the imminent Spark token airdrop, and the spike in the number of unique XRP addresses.
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