Despite the number of controversies surrounding the XRP digital token by Ripple network, the coin continues to grow after a dismal first six months for 2019. The Brad Garlinghouse operated firm has developed into one of the most ambitious Blockchain firms in the world. The network has continued to rope-in more and more institutional support.
For our latest crypto and Blockchain news, Ripple’s XRP token has been integrated into a South Korean payment network with the firm’s ‘Sentbe.’ The coin has enjoyed a brief period of growth in price and daily transaction volume. Let’s see how XRP managed to achieve its latest feat.
XRP Price is Reportedly Recovering from a Crash
Note that the price of XRP had just crashed along with its peer coins in recent days. Today the coin has entered a recovery phase. Ripple’s native cryptocurrency had initially failed to propel any major gains for the majority of this year. This current bullish action is following a brief breakout that it enjoyed earlier before dropping under the $0.38 key position once more.
The number three digital asset by market capitalization was trading at $0.33 as of the time this content was published which constituted the 5.7% increase the entire crypto market cap enjoyed at $290.6 billion. This has kept the asset class on top its peers in recent days especially in the last 24 hours.
XRP Reached a Year High in Daily Transaction volume
In terms of total number transactions in a Blockchain network per day, XRP has recently reached a one-year high. This is remarkable considering the fact that coins price hasn’t lived up to its hype in recent months. It should be recalled that the XRP transaction volume numbers suffered a significant fall on the recent day market crash. At the time the figures for daily transaction volume fell to about 513.4k.
However, several days on particularly on July, 9, the transaction figures for XRP peaked at 1.219 million. As of July 20, the total number of transaction stood at 1.112 million.
XRP Has Recorded the Highest Number of Transactions in the Last 24 Hours
In another feat for Ripple’s native cryptocurrency, XRP, the coin recorded the highest number of transactions in the last 24 hours. Going by data given by BitInfoCharts, in the last 24 hours, Ripple’s XRP token made a 49.1% climb in daily transaction volume in a total of 1,112,238 transactions per day.
While the number two digital asset by market cap, Ether followed XRP trail after amassing a 25.2% increase in its total daily transaction volume amounting to 570,938 transactions per day. While Bitcoin, the largest crypto by market cap, presented a 13.6% increase which amounted to no less than 306,328 daily transactions.
The total XRP that was traded in all exchanges during the last 24 hours, is at $341,549,150.81. In this time frame, Ripple’s XRP was the most traded coin on HitBTC exchange, which contributed to 38.2% increase in per day trading volume, and accounted for 26.12% rise while the XRP/BTC pair saw a massive 73.87% rise.