XRP Price Reaches IDR 50,700, Highest Since 2018, Want To Record New ATH?

XRP prices have soared since 2018. (Photo; Doc. Coingape)

JAKARTA - The price of XRP managed to break the figure of 3 US dollars (Rp48,600) last night, this is the first time since 2018. At that time, XRP set an all-time high record of 3.84 US dollars (Rp 62,208).

In the last 24 hours, the value of XRP has jumped to 14.45%, trading at 2.94 US dollars (Rp47,628) after reaching its daily peak at 3.02 US dollars (Rp48,924). Not only that, the value of XRP's market capitalization also rose to 168 billion US dollars (Rp2,721.6 trillion).

Based on CoinMarketCap data, XRP's trading volume also experienced a major spike, up 154.53% in the last 24 hours to 19.11 billion US dollars (Rp309.6 trillion). This significant price increase occurred amid expectations of the US Securities and Exchange Commission (SEC), which is scheduled to file a defense document related to XRP's lawsuit today. Meanwhile, this afternoon XRP is trading at a price of IDR 50,700 per coin as data from CoinGecko.

Not only prices, transaction activities on the XRP Ledger (XRPL) network also increased sharply. The blockchain network recorded around 341 transactions with a value above 1 million US dollars (Rp 16.2 billion). Seeing this trend, analysts predict XRP will outperform its competitors by 2025, including Ether (ETH), which in the last 24 hours has only increased by 5.22%.

Coin's Meme On XRPL Joins Skyrocketing

The XRP bullish trend also sparked an increase in the price of coin memes on the XRPL blockchain. The ARMY token, a coin meme that symbolizes the rise of XRP, recorded a price increase of up to 26.52% and is currently trading at 0.17 US dollars (Rp2,902). Another coin meme, LIHUA, inspired by the Dragon Li cat race, jumped 24.89% to 0.05 US dollars (Rp 836).

Meanwhile, DROP, a popular coin meme in the XRP ecosystem, recorded a 26.10% spike in the last 24 hours at a price of 16.66 US dollars (Rp. 270,892). DROP trading activity has largely occurred on the Bitrue platform. In the last seven days, DROP prices have risen dramatically to 95.41%.