The price of XRP placed it in the spotlight on March 11 as the crypto asset soared to become the highest gainer among the 100 largest cryptocurrencies by market capitalization.
XRP pulled a major surprise on Monday when its price, as pointed out by Financial Blog outlet WallStreetBulls, soared to a high of $0.74 on Coinbase. This uptick is a significant one, considering that over the past few weeks, the coin struggled to breach the $0.7.
With the rally the market has recorded in the past 2 weeks, XRP has printed a slow but sustained bullish ride that helped it outperform the broader market as the week kicked off.
XRP Sets a Good Pace
As shared by WallStreetBulls, XRP price rose to its highest peak on Coinbase when it jumped as high as 18.06%. While the figure seemed quite small, XRP added $0.11 to its total valuation helping it to hit a price it has never traded at since November 9, 2023.
The observed uptick in XRP’s price has generated a lot of reaction in the ecosystem considering the uncharacteristic nature of the coin to print a sustained growth course. At a time in the March 11 trading hours, XRP jumped as high as 18.31%, becoming the highest gainer among the top 100 coins, per the update shared by Digital asset researcher Anderson.
XRP is the highest gainer in the top 100 today. $XRP pic.twitter.com/Pke2CIiS3Q
— Anders 🏁🌏 (@X__Anderson) March 11, 2024
Data also revealed that XRP recorded more 24-hour growth rate than Litecoin at 17.36% and Near Protocol at 14.03%.
Mild Correction Underway
While XRP had a better-than-expected trading performance on March 11, it has given up some of the gains, as it is currently priced at $0.6943, up by 11.14% in the past 24 hours. While many experts believe XRP is primed for more ambitious growth in the long term, this mild correction can help it regain its footing for a higher rebound.
XRP boasts of a unique price action amid the current bull market cycle and though the community is not completely pleased by its performance thus far, certain analysts have continued to project a potential surge to $6.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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