Reminiscent of Dogecoin’s recent rebound, the value of XRP tokens soared by more than 100% in just 48 hours. After opening at a price of $0.29 on January 30, the data showed that the token’s peak was above $0.67.At the time of writing, XRP is trading at approximately $0.66
As shown on markets.Bitcoin.com, after the price surge, XRP’s market value reached nearly $28 billion, which is almost twice that of Polkadot. This means that XRP has now regained its position as the fourth-ranked cryptocurrency. Similarly, data from messari.io shows that XRP reached a peak of $0.68 on February 1.
As token issuer Ripple Labs faces legal challenges, the unexpected price spike of XRP may give people reason to believe that there are reports that a branch of Wall Street Bet (WSB) is helping to inject cryptocurrency.
As we all know, the movement of retail traders like Satooshistreetbets has received partial praise for the recent rapid rise of Dogecoin. Encouraged by Wallstreetbets’ Gametop short squeeze program, Satoshistreetbets Redditors successfully won for Dogecoin, which made its value skyrocket.
At the time of writing, some crypto enthusiasts on social media are calling on retail crypto investors to participate in a campaign to promote XRP.
What is your opinion on the current price rebound of XRP? Tell us what you think in the comments section below.
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