U.Today – The price hit a new all-time high today, surging past the key $3.30 barrier. After nearly seven years, what seemed like an impossible burden has now been broken, and XRP is currently in what some might call price discovery mode.
Interestingly, the price of XRP did not jump in line with the rest of the crypto market, but against it. Over the past few hours, the prices of the popular alternative cryptocurrency have literally torn apart its main competitors in the form of (BTC) and (ETH), with an incredible 16% rise from today’s lows against both leading cryptocurrencies.
As a result, the price of XRP reached a value of 0.000033 BTC and 0.00099 ETH. This is still far from the all-time highs against Bitcoin and Ethereum, with up to 657% and 269% room to grow, respectively.
What does this mean for traders and investors?
The XRP breakout is definitely something to watch out for, even if you don’t like the token. While the cryptocurrency’s growth is impressive, it will be closely watched to see how it continues and whether it can maintain these gains. Beyond the numbers, this breakthrough points to bigger changes, both in the XRP ecosystem and in the broader crypto world.
Where will all this liquidity go after the XRP turnover? In beta games like HBAR or XLM? Or maybe the rest of the altcoin spectrum can enjoy some of the new cash flow?
Also consider that XRP’s dominance of the crypto market is now estimated at 5.5%, a figure that dropped by 77% in October alone. So, there will certainly be some redistribution, but when and where remains an open question.
