XRP has ripped higher over the past few days as the coin finally begins to catch up with Bitcoin and the decentralized finance (DeFi) market.Despite the fact that the coin has not seen ostensible fundamental events, it is roaring higher, pulling no punches in its ascent to the upside. The coin is up over 50 percent in the past 24 hours alone as it pushes to $0.75, its highest price in many years.According to CryptoSlate market data, XRP is the best-performing crypto asset in the top 100 over the past 24 hours, save for Stellar Lumens (XLM), the cousin of the third-largest cryptocurrency.
“Coinbase’s 10% price increase notifications for XRP are literally spamming my phone in the last 24 hours. I don’t know how to feel about that. Dumb money is here”
Coinbase’s 10% price increase notifications for XRP are literally spamming my phone in the last 24 hours. I don’t know how to feel about that. Dumb money is here
— Larry Cermak (@lawmaster) November 24, 2020
Many see this as a sign that the retail investors that plagued the last crypto bull run have returned.XRP has basically been a dead coin up until the past three weeks.The coin set a series of lower highs and lower lows through late 2019, early 2020, and even well into the summer. Many thought the cryptocurrency would never rally again, pointing to the fact that there was mass-selling pressure from whales of the coin.Stellar goes to the moon as affinity XRP playStellar Lumens (XLM), the coin launched by Ripple co-founder Jed McCaleb, is also shooting higher.The two cousin coins have long rallied in tandem, both sporting the “X” at the start of their tickers.XLM has gained 70 percent in the past 24 hours, making it the best performing crypto asset in the top 100 by market capitalization.Like XRP, XLM was largely lagging other top altcoins like Ethereum and Litecoin heading into the past few weeks. Many see this price action as a reversion to mean.