XRP (XRP)–Despite being embattled in a year long bear cycle, with the trend extending into deep negative territory over the past several weeks, XRP has posted a double-digit gain in price on the day reversing the otherwise downward trend in valuation.
While most of the cryptomarkets struggle to maintain valuations experienced even earlier in the summer, altcoins in particular have taken a beating throughout the month of September. Bitcoin has managed to find some stability trading around $6500, but the remainder of the market with Ethereum and XRP being two prominent coins in terms of market capitalization, have not faired nearly as well. On Tuesday XRP, the third largest cryptocurrency with a capitalization of $12.5 billion, posted double digit gains, reaching as high as a 18 percent increase in one point to bring the price of the token back above $0.30. While the coin has been on the losing end of a bearish downturn, with the price of XRP continuing to sink relative to the dollar, today marked a strong reversal in downward price turn.
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