Ripple’s XRP Swells 40% Despite Delisting Woes; Dead Cat Bounce?

Ripple’s XRP Swells 40% Despite Delisting Woes; Dead Cat Bounce?


Ripple’s native token XRP was among the best performers in the cryptocurrency space even as its delisting across exchanges picked momentum.

The XRP/USD exchange rate surged by more than 40 percent on a 24-hour adjusted timeframe, hitting an intraday high of $0.328. Measured from its bottom of $0.17 from December 30, the pair was trading almost 94 percent higher, signaling a successful pullback following its 82 percent crash from its yearly peak of $0.92.

Ripple rebounds with moderate volume. Source: XRPUSD on TradingView.com Ripple rebounds with moderate volume. Source: XRPUSD on TradingView.com XRP Fundamentals

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The Ripple’s gains primarily appeared in the wake of a market-wide price rally across the cryptocurrency market. Traders raised their bids on all the top-cap coins after Bitcoin logged record highs above $37,500. Altcoins usually do better after Bitcoin tops out. That partially explains why XRP surged.

Meanwhile, the token also surged as Ripple signed a deal with Saudi Arabia’s central bank to innovate their

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