Ripple XRP has seen a massive gain of over five percent (5.1%) after the Bitcoin rally. The gain was expected since every single time Bitcoin chases a rally other cryptocurrencies including XRP get a boost too.
It is evident that cryptocurrencies are recovering smoothly from the market crash back in 2018 as Bitcoin crossed the eleven thousand-dollar ($11000) mark momentarily before taking a monthly breath.
While Bitcoin went down by one point zero-seven percent (1.07%) in its breather, Ripple (XRP) had an increase of an incredible five-point one-one percent (5.11%) in its token price.
It is to be noted that out of the five only two cryptocurrencies went up. This sends mixed signals for the crypto market as a whole.
Yesterday the price action fluctuated according to the predictions and nothing out of the ordinary happened, moreover many of the major cryptocurrencies are showing bulls since the last fourteen days. This sends a green signal to the trend traders as the price actions are moving just as predicted.
XRP had the most transactions on its network yesterday out of all current cryptocurrencies. In fact, it had around 25% more transactions processed on its network than the runner up, Ethereum. This may be due to the difference in transaction prices among the network with Ripple having an incredibly low transaction fee.
However, the largest transaction was processed on the Bitcoin network which was worth around three hundred and fourteen million dollars ($314M). This transaction was far larger than the biggest transaction on the Bitcoin last week.
Although Bitcoin’s Dominance on the cryptocurrency market continues to decrease, it still accounts for more than fifty-eight percent (58%) of the market cap.