Ripple's XRP token has enjoyed notable gains recently, rising close to 20% within 24 hours as it benefits from several positive news developments.
The digital token reached $1.08 at roughly 03:00 UTC (10 a.m. EST), roughly 19.85% higher than the same time the day before, according to CoinMarketCap.
When explaining this price rally, analysts pointed to several factors, including banks' continual adoption of Ripple technologies and rumors that major digital currency exchange Coinbase will soon list the XRP token for trading.
These factors have combined to trigger a "speculative frenzy" of buying activity, said James Song, founder and CEO of blockchain startup ExsulCoin.
Rumors have been circulating for months that "Ripple's XRP will be listed on Coinbase," he emphasized.
Jeff Koyen, CEO of 360 Blockchain USA, also weighed in on the subject, stating that "Ripple's overnight pump may be based on real news, but I'm inclined to think it's the Coinbase rumor."
"If the Ripple rumor turns out to be true, I expect we'll see a proper bull run for XRP, maybe up to $2 if Bitcoin's price holds steady," he added.
Or its just the rising adoption of Ripple....
Read the full Forbes news here by Charles Bovaird: Ripple Climbs Nearly 20% As Positive News Fuels 'Speculative Frenzy'
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Regarding ripple, I start watching it went it was about 12 cents. I wonder if it will get back up to $3.
:) yup...Cheetah is one another reason to cite the source and credit the Forbes news for this timely article.
I got ripple when it was $2.5...then @$0.6...I would be more than happy if it goes back to $3. If it goes back to few cents, I will buy more. I guess either direction is fine for now!
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