XRP Breaks it ATH and set a new ATH of $0.70, Is it real or a PUMP and DUMP scam?
XRP is showing a rise of over 50 percent over the past 24 hours and has finally broken above the $0.70 price level after breaching $0.60 twice earlier today.
As a result of the current pump, XRP has demonstrated a rise of 157 percent over the past three days and has recovered to the third spot as its market capitalization value has surpassed those of Polkadot and USDT.
Santiment data agency believes that the current XRP pump is taking place thanks to 200,000 traders in a Telegram group called “Buy and Hold XRP,” which emerged only two days ago when XRP started rising above the $0.30 mark on Saturday.
📈 Is $XRP becoming the #crypto version of $GME and $AMC after a massive pump over the weekend? For an asset that was presumed to be on the decline since their SEC lawsuit & @coinbase delisting news, this MASSIVE pump comes after rumors of pump groups planned to do
👇 (Cont’d) pic.twitter.com/JcYUq5zsNG
— Santiment (@santimentfeed) February 1, 2021
XRP Bucks the Broader Market Trend With A Massive GameStop-Like Pump, DOGE Follows
More About Ripple (XRP) Cryptocurrency
What is the price of Ripple today? The cryptocurrency was valued at more than 0.20 U.S. dollars per coin during December 2020, a price that was three times less than what it was in November. Ripple’s value has been under a dollar per coin for over a year, with little indication of increase.
What is Ripple?
Ripple, in addition to being a cryptocurrency, is also a payment system. Unlike other cryptocurrencies, it does not use blockchain. Instead of this distributed ledger technology, it uses a common ledger that multiple users have access to, trading the security of the number of ledgers in existence for faster transaction times. While the XRP is not one of the most known cryptocurrencies, the company has raised a significant amount of funding.
Blockchain, digital security, and financial technology (fintech) are growing areas of investment. The initial coin offering (ICO) has become a common way of raising funds for startup companies worldwide. The question for Ripple and other such companies is whether or not it can differentiate itself from the crowd. The industry is likely to continue growing, but in the long run probably only a few major firms will win the majority of market share.