💥 XRP Price Hits New All-Time High After Seven Long Years
FAHEEM TRADERS
Updated at: 4 hours ago
{"content":"💥 XRP Price Hits New All-Time High After Seven Long Years
The price of XRP rose to a record high, soaring past a seven-year-old milestone amid broader momentum for altcoins in the crypto market.
In brief
XRP price set a new all-time high on Thursday, finally topping the seven-year old record.
It previously peaked at $3.40 in 2018 during the ICO boom, per data from CoinGecko.
Despite regulatory headwinds, which have mostly dissipated, XRP Ledger has been adopted by hundreds of financial institutions.
The price of XRP rose to a record high on Thursday, soaring past a seven-year-old milestone amid broader momentum for altcoins in the cryptocurrency market.
The Ripple Labs-linked coin was recently changing hands around $3.41, rising more than 36% over the past week, according to crypto data provider CoinGecko. The previous record was $3.40, set all the way back in January 2018.
Ethereum and Solana had also outperformed Bitcoin’s weekly 5.5% rise, meanwhile jumping 21% and 8%, respectively.
The recent surge in XRP’s price has been enough for it to supplant Tether’s USDT as the third-largest digital asset by market capitalization. On Thursday, XRP’s total value stood above $200 billion, compared to the industry-leading stablecoin’s $160 billion footprint.
XRP's new all-time high underscores investors' belief in Ripple's vision for "a regulatory-compliant blockchain for institutions," Matt Kreiser, a research analyst at crypto analytics platform Messari, told Decrypt. "It's a validation of everything they've been doing and working towards."
Created alongside XRP Ledger in 2012, XRP has been used to facilitate cross-border and cross-currency payments for longer than much of the cryptocurrency industry has existed. XRP previously peaked in 2018 near the height of the ICO boom, when Wall Street adoption was viewed as a far-off hope among many market participants.
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