XRP Bulls Set Sights on $1 as Crypto Gains 12% Weekly Pump
XRP Bulls are celebrating this week, as the cryptocurrency surged 12% over the past 7 days. The jump puts it firmly in third place behind Bitcoin and Ethereum in terms of market capitalization, leaving a wide gap for the rest of the currencies to fill.
XRP Eyes $1 Mark as Crypto Market Capitalization Resurges
The weekly pump sees XRP eyeing the $1 mark, much to the delight of its long-term holders. The jump leaves other cryptocurrencies in the dust, some of which have been stagnant or have even seen declines in market capitalization in the same period.
The current market strength that XRP is enjoying is allowing its holders to look back on the good times they experienced in late 2017, when the cryptocurrency surged past the $3 mark. This was a remarkable feat at the time, as most of the world was still unaware of cryptocurrencies and had no idea of their potential.
The XRP community remain positive that they will soon break the $1 mark and set their sights on even higher goals.
XRP vs. Other Cryptocurrencies
XRP has been leading the charge of most cryptocurrencies over the past 7 days, but it is not the only one experiencing a weekly pump. Other digital currencies such as Stellar Lumens, EOS and Cardano have also seen significant gains and show promise as worthy alternatives to Bitcoin and Ethereum.
XRP still has some catching up to do if it wants to be taken seriously as a top-tier cryptocurrency. Crypto enthusiasts will be looking for the currency to sustain its current momentum and further increase its market capitalization.
Ripple, The Company Behind XRP
Ripple, the company behind XRP, has been hard at work trying to increase liquidity for the currency and promote its use in the real world. Ripple has managed to forge partnerships with a handful of major banks, giving it strong credibility among institutional investors.
Ripple is also investing heavily in its xRapid platform, which is starting to gain some traction. This will allow users to transfer money anywhere in the world with minimal fees and in real-time.
Should XRP Investors Buy Now?
Investors looking to capitalize on the current surge in XRP prices should be aware of the risks involved. Investments can go both ways and some commentators believe that XRP is currently in a bubble, which could burst at any time.
As always, investors should do their own research and use caution when investing in any cryptocurrency.
Conclusion
XRP is currently enjoying its moment in the sun and its investors are optimistic about its future prospects. With increased liquidity and institutional adoption, it could soon become a staple of the crypto ecosystem.
However, any investment carries the risk of losses and investors should take the time to understand their own risk appetite. So if you have an appetite for crypto risk, XRP could be a good bet.
