XRP’s price skyrockets by over 20% making it the best performer in the market

Following a remarkable surge in its price, Ripple XRP has claimed the title of the best-performing cryptocurrency within the top 100 by market capitalization. With its token price soaring to $0.7391, marking an impressive surge of over 20% in the past 24 hours, Ripple XRP has surged ahead of its peers.

Notably, Ripple’s native token has also seen a substantial increase in market capitalization, reaching $40.4 billion. Outshining even the top five leading cryptocurrencies on the charts, including Bitcoin, XRP has emerged as the top performer in the market over the past day. Traders are exhibiting extreme bullish sentiment towards the token, with trading volume surging by over 300%.

Despite being initially slow to join the bullish rally in the cryptocurrency market, XRP has rapidly caught up in recent times. The open interest for XRP, indicating the total number of outstanding derivative contracts, has witnessed a significant uptick of 30.44%, reaching $1.06 billion.

However, the surge in Ripple XRP’s price has elicited a mixed response from market participants. While some holders opted to cash out, resulting in millions in liquidations, interest in XRP futures has concurrently surged. The token’s market capitalization now stands at a staggering $40,157,126,488.

Many analysts foresee XRP’s recent surge propelling it towards the $1 mark in the near future, particularly if it aligns with the ongoing bullish trend in the broader crypto market.