Almost a week ago CoinDiaryNews reported on XRP’s stellar performance taking Ethereum‘s place by market capitalization for a day, however Ethereum (ETH) is well cemented to be the 2nd in lead behind Bitcoin (BTC). Following its massive 70.00% increase in 24-hours, the pair XRP/USD slowed down its momentum as sellers jumped in to harvest the gains. Yesterday most leading coins were experiencing double digit dumps with the likes of EOS, ADA, XLM and XRP.
Ripple’s XRP Now
Following the violent sell-off that took place beginning of September throughout the complete market, XRP was the first to make major steps upwards against the US Dollar toward the road of recovery.
Now returning to the present, the pair XRP/USD is changing hands at $0.5311 while battling to stay above $0.5000 as it was able with today’s tradings to recovery most losses. Has increase 16.50% in the lat 24-hours being the only in double digit gains in the top-50 list.
In a recent tweet as mentioned in a previous blog post, Justin Sun (TRX Founder) would give the recent surge of XRP in the markets to PNC Bank recognizing Ripple’s protocol. He also added that it was a sign that financial institutions will embrace blockchain.
XRP surge shows PNC Bank’s recognition of the Ripple protocol. With Bill Clinton keynoting Swell 2018, blockchain is going mainstream! As Ripple’s Greater China Chief Rep from 2014-16 and a Ripple shareholder, I’m confident financial institutions will adopt blockchain. #TRON $TRX
— Justin Sun (@justinsuntron) September 21, 2018
Mellisa Lee, CNBC Fast Money’s host, queried Novogratz on his opinion about the aforementioned price surge, asking the well-established figure to try to explain the current state of XRP:
“They’re building a great business. Full disclosure — we’re (Galaxy Digital) a 1% owner in Ripple the company, not the coin… They have a good story. When something jumps 3x, I don’t understand it. [Maybe] it’s a short squeeze to a degree, as I’m sure some people were short, but there were [likely] new buyers.”