XRP Explodes 40 Percent in Seven Days: Now the $1.50 Mark Counts
XRP trades at $1.40 at the time of writing, up 6.8 percent over 24 hours. That puts the price back above the $1.40 mark for the first time since May 18. All price data in this article comes from CoinMarketCap and Binance's public futures interfaces, as of August 21, 19:15 CEST.
The daily move is the smallest number here. Exactly one week ago, on August 14, XRP closed at $0.998. From there to today is a good 40 percent. Over the week, XRP beats Bitcoin at roughly 23 percent and Ethereum at roughly 28 percent, and by a wide margin.
At the start of the week it looked like something else entirely. For eight days running the price clung to the $1 mark, and on August 16 we set out why everything hung on that support. The breakout then came in three stages: $1.10 on August 19, $1.27 on August 20, $1.40 today.
Why is the XRP price up 40 percent in one week?
The trigger is the broader market. The Bitcoin rally above $77,000 has lifted total market capitalisation by a good five percent within a day, to $2.6 trillion. CoinMarketCap's Fear and Greed Index stands at 73 points, squarely in greed territory.
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