Unlike last week, almost all of the major cryptocurrencies are in the green today. Last night, arguably the most popular cryptocurrency of Bitcoin flew up past the $6,400 mark, hitting a high of $6,450. It then dropped slightly and is now sitting at around the $6,410 mark, making for a 24 hour growth at 1.8%.
Ethereum has recently taken quite a hit, but the past couple of days has seen it recover slightly, and is now up around 2.6%, although has still fallen from its mid-week high of $225 back on the 15th September.
Ripple is the third largest cryptocoin in the market, and it has been doing better than many other digital coins. This major price rise started a couple of days ago on September 18th, and the second upwards swing took place today. In fact, Ripple is currently leading the market with a solid 10% gain. If you consider its price rise from September 18th however, it has risen by more than 36.5%.
Over the past 7 days, the social media activity of keywords such as XRP and Ripple have increased significantly, likely due to the announcement that there will be a new Ripple product launched in October. The team behind Ripple has also announced that RippleNet has been going through rapid expansion throughout 40 countries, making international payments faster and more transparent.
A combination of this growth and the announcement of the product release, plus the short-term trend reversal in the cryptocurrency industry as a whole, has led to this XRP value increase in such as a short period of time.
With the prices of both major and small market cap cryptocurrencies seemingly recovering slightly, it is expected that throughout September there will be a gradual increase in the value of the crypto market.