XRP Surges 11% in Largest Daily Gain Since March

XRP, the native cryptocurrency of the Ripple network, surged by 11% on Wednesday, marking its largest one-day percentage gain since March 2. The price of XRP reached $2.5343 by 21:21 (02:21 GMT), pushing its market capitalization up to $144.1609 billion, or 5.02% of the total cryptocurrency market cap.

The rally in XRP came amidst a broader market recovery, with Bitcoin and Ethereum also posting significant gains. Bitcoin rose by 4.37% to $87,598.2, while Ethereum gained 5.77% to $2,186.95. The market capitalization of Bitcoin and Ethereum stood at $1,728.4760 billion and $262.0926 billion, respectively, accounting for 60.22% and 9.13% of the total cryptocurrency market value.

The trading volume of XRP in the 24 hours leading up to Wednesday was $10.1186 billion, representing 6.63% of the total volume of all cryptocurrencies. Over the past seven days, XRP has seen a rise in value, gaining 8.28% and trading in a range of $1.9554 to $2.9676.

Despite the recent gains, XRP remains 25.36% below its all-time high of $3.40, which was set on January 16. The cryptocurrency market continues to be volatile, with investors closely monitoring regulatory developments and technological advancements that could impact the long-term prospects of various cryptocurrencies.