In a surge reminiscent of Dogecoin’s recent rally, the XRP token’s value rose more than 100% in just 48 hours. After starting the day at $ 0.29 on Jan. 30, data shows the token hit a high of just over $ 0.67. At the time of writing, XRP is trading at around $ 0.66
As demonstrated in the markets, Bitcoin.com, XRP’s market cap rose to nearly $ 28 billion after that price surge, almost double that of Polkadot. This means that XRP has now reclaimed its position as the fourth highest crypto. Similarly, data from messari.io shows that the XRP hit a high of $ 0.68 on February 1st.
Given the legal challenges facing token issuer Ripple Labs, the unexpected rise in the price of XRP could believe reports that an offshoot of Wallstreetbets (WSB) is helping to pump the crypto.
This movement of retailers known as Satoshistreetbets has already received partial credit for the recent meteoric rise of Dogecoin. Satoshistreetbets Redditors was supported by Wallstreetbets’ Gamestop Short Squeeze and successfully campaigned for Dogecoin. This skyrocketed its value.
At the time of writing, some crypto enthusiasts on social media are encouraging crypto investors to join a campaign to pump XRP.
What do you think of the current price rally from XRP? Let us know what you think in the comments section below.
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