The native digital asset of the XRP Ledger has recently shown positive signals in the market after posting price gains
XRP has often struggled to outperform other leading cryptocurrencies throughout the year. However, following a string of developments, XRP has emerged as one of the top ten performers recently, registering a 6% gain over the past 24 hours.
At the time of writing, XRP trades at $0.25, up from $0.235 at the same time yesterday — an increase of about 6.38%. Notably, Ripple, with a market capitalization of $11.21 billion, has posted a positive seven-day change of 1.9%.
Binance saw the largest seven-day move among major assets, rising 7.84%, while its 24-hour change was a modest 0.28%. Ethereum and Bitcoin recorded 24-hour gains of approximately 1.32% and 0.92%, respectively.
XRP’s current price represents roughly a 28% increase since the start of the year. Despite this uptrend, XRP remains one of the weaker performers among the top ten cryptocurrencies for 2020.
The recent price movement follows an incident in which over $4.5 million worth of XRP was stolen from KuCoin. KuCoin has stated that it identified the hacker involved. Given an average daily trading volume near $1.5 billion, the stolen amount is unlikely to materially disturb the broader XRP market.
Last week, Ripple announced the development of a tool to help crypto firms procure renewable energy. Ripple says the tool will support its goal of achieving net-zero carbon emissions by the end of the decade.