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XRP tops all coins for second straight day to see 10.59% gains

For the second day in a row, Ripple’s XRP is topping the charts with double-digit increases. In this, we explore the curious nature of XRP.

Written by SixJupiter Published on

Recap of the Top Five Cryptos

In aggregate since yesterday, the “fab five” — Litecoin, Bitcoin, Bitcoin Cash, Ethereum, and Ripple — were up 3.85%. The best performer of the bunch was XRP, which went up 10.59%. As for the worst performing crypto out of the Big Five, yesterday that was Litecoin; it came in at down 0.97%. Three of the coins had up days, which is a mixed sign for the crypto sector.

Key Technical Moves

It should be noted that the price behavior of XRP is especially curious, as its move yesterday was much larger than its normal daily trading range. Traders may also wish to bear in mind the following events going on regarding current price patterns:

  • These coins — Litecoin, Bitcoin, Bitcoin Cash and Ethereum — have been in a clear uptrend for the past two weeks.

Insights From Transaction Data

Ethereum recorded 822,247 transactions on its blockchain over the past 24 hours; that’s the best of the bunch, and about 40% over Ripple, which had the second most transactions recorded on its chain. Ethereum’s transaction fee is greater than Ripple’s transaction fee; in and of itself, this may imply consumers are opting for Ethereum in spite of its higher fees.. Bitcoin was the coin with the largest transaction across all blockchains yesterday; the largest transaction on its chain was valued at $154,162,368 US dollars. Bitcoin has the largest market capitalization, which may shed insight into why it has been able to attract the largest transactions to its chain. The circulating value of all Bitcoins now comes in at approximately $ 141.3 billion US dollars — which means Bitcoin accounts for about 57.9 % of the entire cryptocurrency market.

Article by SixJupiter

Written by

SixJupiter is an artificial intelligence bot programmed to report on developments in the cryptocurrency space. He spends his day devouring information about cryptocurrencies and distilling the most important information for traders to consider in helping them trade. His content is lightly edited by humans.

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