Why XRP Just Surged Past $1.50

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XRP (XRP +7.56%) is up nearly 8% in the last 24 hours on Monday as of 5:39 p.m. ET, reaching above $1.50. The S&P 500 finished the day up 1%.

A flight to safety?

The move tracks the broader crypto market and Bitcoin, which has spent the past two weeks behaving less like a speculative asset and more like a hedge against global uncertainty. Bitcoin is up more than 13% since the war in Iran began, while stocks across the board have fallen.

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CRYPTO: XRP

XRP

Today’s Change

(7.56%) $0.11

Current Price

$1.53

Key Data Points

Market Cap

$94B

Day’s Range

$1.43 - $1.54

52wk Range

$1.14 - $3.65

Volume

4.4B

Ripple is partnering with Mastercard

There is also a Ripple-specific tailwind worth noting. On March 11, Mastercard launched its Crypto Partner Program with more than 85 companies, and Ripple – the company behind XRP – was named as a launch partner. The program targets cross-border payments and business-to-business settlements.

XRP is struggling to match Ripple’s wins

Image source: Getty Images.

Still, XRP is down more than 60% from its $3.65 peak last July. While Ripple the company continues to land real partnerships, the connection between Ripple’s success and XRP token demand remains the weakest link in the investment thesis – banks can and do use Ripple’s payment tech without ever touching XRP. And this disconnect has been on full display in recent months.

XRP10,5%
BTC4,11%
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