XRP Price Explosion: Ripple’s Coin Races To $1 Due To 3 Triggers

XRP’s daily trading volume has soared to a record high as the crypto overtakes Tether (USDT) to become the third-largest crypto by market cap. If you look at the data from the crypto price aggregator CoinMarketCap, you will see that XRP surged to a 2020 high of $0.76 as its market capitalization swelled to over $31.4 billion.

Analysts at Santiment, an on-chain analysis firm, said that the single-day increase in active addresses was the largest since May 1: “Ripple’s price skyrocketed +27% today, and the number of unique addresses transacting on the $XRP network in a single day (24,408) was the highest output since May 1st.” You may recall that Ripple said: “As indicated in the Q2 2020 XRP Markets Report, Ripple is purchasing – and may continue to purchase – XRP to support healthy markets.”

Timeline of Tether, Xrp