XRP Hits Two-Month Price High in Wake of Ether Rally

XRP (+18.79%), the cryptocurrency used in Ripple Labs’ payments network, is rallying on the coattails of altcoin leader ether (ETH, +0.9%)‘s recent move to record highs.

XRP rose to $0.72 early Monday to hit the highest level since Feb. 2 and was last seen changing hands near $0.70. The third-largest cryptocurrency by market value has gained 18% in the past 24 hours, according to CoinDesk 20 data.

The price rise comes three days after the Ethereum blockchain’s ether token set new lifetime highs near $2,100. Since then, the second-largest coin has established a foothold above $2,000, helping XRP and few other alternative cryptocurrencies such as tron (TRX, -9.52%), stellar (XLM, +2.83%), orchid (OXT, -3.64%), bitcoin cash (BCH, +5.65%), and eos (-4.93%) score gains amid the dull action in bitcoin (BTC, -1.1%) – the crypto market leader.