Ripple’s XRP surges 70% as Bitcoin craze sends investors flocking to smaller cryptocurrencies



Thomas Trutschel/Photothek via Getty Images


© Thomas Trutschel/Photothek via Getty Images
Thomas Trutschel/Photothek via Getty Images

  • The price of Ripple’s XRP gained as much as 70% in hugely volatile trade on Tuesday, extending the broader cryptocurrency rally led by Bitcoin.
  • As institutional investors allocate massive amounts to Bitcoin as a hedge against inflation, other market participants are looking to alternative cryptocurrencies — or altcoins. 
  • Ripple designed XRP to perform speedy, less costly, and more scalable alternative transactions.
  • The token’s latest rally is also being driven by a central bank push to digitalize currencies.
  • Visit Business Insider’s homepage for more stories.

Ripple’s XRP surged as much as 70% on Tuesday as the third-biggest cryptocurrency extended a rally that has been kickstarted by mass interest in Bitcoin. 

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Ripple’s price has risen about four-fold since the start of the pandemic, making gains alongside Bitcoin — which rose 4% to a near all-time high of $19,241 on

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