Why did XRP's price go up today? Crypto revival gains steam

XRP ( XRP-USD ), the native token of Ripple Labs, advanced 7.4% to $0.43 in Monday afternoon trading as buying pressure across the cryptocurrency market persisted during the session. Bitcoin ( BTC-USD ), the world's largest digital token by market cap, flirted with its highest level in more than five months, rising 1.7% to $23.88K at 4:32 p.m. ET. Ethereum ( ETH-USD ) was trading sideways at $1.63K. Overall, the global crypto market cap climbed 2.1% to $1.05T, according to CoinMarketCap data . Most of the major cryptos have garnered sizable returns since the start of 2023 -- many of them erasing losses since November 2022's FTX ( FTT-USD ) collapse -- with XRP ( XRP-USD ) jumping 23.5% , bitcoin ( BTC-USD ) surging 38% and ether ( ETH-USD ) +34.5% . For the week ended Jan. 20, XRP ( XRP-USD ) was one of the many altcoins that reportedly experienced net inflows, while investors grew more bearish on bitcoin ( BTC-USD ).