Ripple (XRP), the native cryptocurrency of the XRP Ledger payment network developed by Ripple Labs, advanced over 20% Monday, snapping its downtrend versus bitcoin (BTC) as the crypto rally broadened. CoinDesk data shows that XRP sharply jumped to $0.74 in a little more than an hour Monday afternoon UTC time, notching its highest price since a very short-lived spike last November amid speculation about a potential BlackRock-managed XRP ETF. Today's 20% gain made XRP the best-performing asset in the broad-market CoinDesk 20 Index (CD20), which was higher by 5%. XRP's rally could be a sign of traders turning their attention and rotating some of their capital to tokens.
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