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Why XRP Is Soaring Again Today

TheMotleyFool

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XRP (CRYPTO: XRP) is surging again Monday. The cryptocurrency's token price was up 5.5% over the past 24 hours as of 1 p.m. ET. At the same point in the day's trading, Bitcoin (CRYPTO: BTC) was up 1.6%, and Ethereum (CRYPTO: ETH) was up 1.7%. Today's trading has pushed Bitcoin to a new all-time high.

The broader crypto market is continuing to see bullish momentum, and XRP is getting a lift from the trend. In addition to new legislation being discussed this week that could wind up benefiting the crypto industry, the token is getting a boost from expectations that the macroeconomic backdrop for cryptocurrency valuations could soon become more favorable.

Image source: Getty Images.

Source Fool.com

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