Cryptocurrency XRP, currently ranked fifth in market capitalization, registered a 10% price increase within an hour on Tuesday, sparking interest among the digital asset community. The reason for this sudden surge is yet to be revealed.
Jeremy Hogan, a lawyer and avid XRP advocate, pointed out that the price movement of XRP was not in line with Bitcoin's trend. Bitcoin, the leading cryptocurrency, saw a marginal decline of 0.13% during the same timeframe.
The surge in XRP's price was accompanied by a remarkable 145% increase in trading volumes. Transactions valued at $2.15 billion were executed in one day, an event that could suggest investors are expecting further price gains.
The digital currency had previously hit a low of $0.533 on Sunday, October 27. However, recent trades saw XRP successfully surpass the significant resistance level of $0.586 and even briefly reach a high of $0.62.
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