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Ripple CEO says it’s important for XRP to be useful in the real world as its value goes up by 20% to more than $0. 74

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Ripple CEO Brad Garlinghouse said it’s important for cryptocurrency to be used in the real world, not just for people to be excited about XRP’s price going up.

Even though the market is going up, XRP has not done as well as expected. Its price is below $0. 70 while other assets are gaining a lot. Until now, the most the asset was worth was $0. 6685 on March 5th, when Bitcoin reached a new all-time high.

After going up to $0. 6685, XRP dropped by 8% to below $0. 60 However, despite worries getting worse, the value of the digital money went up when the 50-day average price surpassed the 200-day average price.

XRP’s value went up by 20% in just 4 hours

XRP didn’t feel the effects of this change right away, because it stayed the same from March 6 to 10. But yesterday, the crypto asset had a big success, with its value going up and breaking through many barriers.

The price of the asset went up from $0. 6177 yesterday at 2:00 PM (UTC) to a new high for the year of $0. 7440 at 6:00 PM (UTC). This amazing run showed a huge 20. 4% increase in just four hours. XRP reached $0. 74 but stayed above $0. 70 until this morning despite facing some resistance.

The crypto token went down a little after going up a lot last night, but it still has gone up by 13. 7% in the last day, making it the fourth biggest gainer out of the top 100 assets. Furthermore, XRP is currently valued at $0. 6952, which is still a high price compared to what it was in December 2023.

Ripple CEO Speaks Real-World Utility

The price went up quickly and this made investors feel hopeful and excited. People in the community also felt really enthusiastic about it. During the excitement, Ripple’s CEO Brad Garlinghouse talked about the recent trend in the overall market.

On X’s post, Garlinghouse talked about how the volume of spot Bitcoin ETF products is increasing after XRP reached a yearly high of $0. 7440 Bloomberg’s Eric Balchunas reported on March 5 that the ETFs reached $10 billion in trading, which is a new record.

BTC ETF volumes have been soaring, we’re due for a halving and the broader crypto market is following BTC’s lead (as has historically been the case). As someone who has experienced multiple cycles of “crypto is back” it’s imperative this bullishness go hand in hand with…

— Brad Garlinghouse (@bgarlinghouse) March 11, 2024

The Ripple CEO also called attention to the upcoming halving slated for next month. He emphasized that Bitcoin has triggered an uptrend in the broader crypto market amid its recent gains, with altcoins following its lead. Recall that BTC set a new record high above $72,000 yesterday.

However, Garlinghouse noted that the ensuing euphoria from the market run is accompanied by real-world utility. Ripple has continued to champion this narrative as it leverages the XRP Ledger to address real-world issues, especially in the payments sector.

According to Garlinghouse, the crypto industry would only record a push toward progress if real-world use cases accompany the uptrend. Meanwhile, XRP has continued to command interest amid the recent surge, with volume up 310% over the last 24 hours to $7.2 billion.

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