Last Updated on April 19, 2021 by Jason
The digital token XRP which is used by Ripple Lab, was set to reach its peak performance since 2017, after doubling in just one week.
The price of XRP has increased 118% in the week leading up to April 11. This is the biggest gain in a week since the end of 2017, when the token increased by 215% in a week.
It struggled at the end of 2020 as allegations surrounded the cryptocurrency about unregistered asset securities being offered with it.
However, XRP has made somewhat of a comeback this year, and its value has increased hugely. Analyst Peter Brandt who has more than 40 years of experience in the trading industry, said last week that he thought XRP would have an all-time high coming its way in the near future. He said that the pattern of XRP currently ‘would indicate prices a boatload higher’ to a new all-time high.
There is a lot of conjecture around how to value XRP, because of the questions still outstanding around the recent scandal. According to some sources, XRP has a current market capitalization of $140 billion. Other sources say that the actual market cap is more around $64 billion.