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For the second consecutive day, Ripple’s XRP has surged an additional 40% moving all the way to hit the crucial $1.00 levels for the very first time in three years! It was April 2018, almost around the altcoin market bull run when XRP was seen trading at these levels.
XRP Price Past $1 Becoming 4th Largest Crypto
At press time, XRP is trading at $0.99 with a market cap of $4.6 billion. With this, XRP has once agin made its entry to the top-five crypto list while smashing past Polkadot (DOT) and Tether (USDT).
Interestingly, XRP’s price rally comes with its trading volume surging 200% in the last 24-hours to hitting almost $30 billion. Over the last week, Ripple’s XRP has gained 72% and over 300% year-to-date.
While it’s interesting to see that the XRP price rally comes just at a time when there have been talks about Kimchi premium returning to South Korean exchanges. The last time Kimchi Premium appeared was during the 2017 BTC bull run and the early altcoin bull run of 2018, wherein cryptocurrencies on South Korean exchanges were trading at a higher price than on other global exchanges.
A number of market analysts have expressed worry on the price premium offered in South Korea. On Sunday, April 4, CryptoQuant CEO Ki-Young Ju wrote:
“The Korean bubble is worrisome to me. Shitcoins prices are skyrocketing, and Korean crypto trading volume has surpassed the national stock exchange(KOSPI)”.
The Path Ahead for XRP Price
While it is like the return of the golden days for XRP investors, the troubles for XRP are not completely gone away. The SEC lawsuit filed last December 2020, still continues to exist, however, Ripple has been strongly defending its position of no wrong doing.
On technical charts, Ripple’s XRP has broken its three-year consolidation pattern and we could see the price going all the way up to $1.30 in this bull run.
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