XRP is seeing an epic breakout against Bitcoin and Ethereum
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The price of XRP reached a new all-time high today, surpassing the key $3.30 mark. After nearly seven years, what seemed like an impossible burden has now been broken, and XRP is currently in what some might call price discovery mode.
Interestingly, the price of XRP has not risen in line with the rest of the cryptocurrency market but in contrast to it. In the last few hours, the popular altcoin has seen its prices literally tear apart its main competitors in the face of Bitcoin (BTC) and Ethereum (ETH), with a staggering 16% rally from today’s lows against both leading cryptocurrencies.
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As a result, the price of XRP reached 0.000033 BTC and 0.00099 ETH. This is still far from the all-time highs against both Bitcoin and Ethereum, with room to grow up to 657% and 269% respectively.
What does this mean for traders and investors?
The XRP hack is definitely something to keep an eye on, even if you don’t like the token. While the cryptocurrency’s rally is impressive, how it continues and whether it can sustain these gains will be closely watched. Beyond the numbers, this hack signals bigger changes, both in the XRP ecosystem and in the broader cryptocurrency world.
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Where will all this liquidity go after the value of XRP rises? In demo plays like HBAR or XLM? Or perhaps the rest of the altcoin spectrum can enjoy some new money inflows?
Also keep in mind that XRP’s dominance in the cryptocurrency market is now estimated at 5.5%, and this number has fallen by 77% in October alone. Thus, we will certainly see some kind of reallocation, but when and where remains an open question.
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2025-01-16 18:43:00
