Why Cryptocurrencies XRP, Chainlink, and Hedera Jumped Today

XRP (CRYPTO: XRP) continues to be the biggest name moving higher and it's now the third largest cryptocurrency behind Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH).

Ripples XRP (CRYPTO: XRP) continues to be the biggest gainer, and it's now the third-largest cryptocurrency by market cap behind Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH). XRP is up 63% over the last 24 hours and 143% since Friday.

Chainlink (CRYPTO: LINK) is up 17.6% in the past 24 hours and 22.6% since Friday. Hedera (CRYPTO: HBAR) is up 45.6% in the last day and 87.9% since the market last closed.

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What Happened: Cryptocurrencies are rallying across the board Monday as traders are returning from the holiday weekend and showing renewed interest in digital assets.

After a strong rally last week, XRP continues to lead the way among large-cap cryptocurrencies. XRP is now up over 400% year-to-date and has quickly become one of the best-performing cryptocurrencies in 2023.

See More: Best Crypto Apps

Chainlink, another top-10 cryptocurrency by market cap, is also rallying again Monday. Chainlink is used to connect smart contracts to real-world data feeds and is showing strength again after rallying last week.

Hedera Hashgraph, a layer-1 blockchain network, is seeing another big day of gains after rallying late last week. Hedera is designed to be fast, secure, and energy-efficient.

Cryptocurrency markets are showing renewed strength again Monday after a strong rally to start 2023. Several large-cap cryptocurrencies are rallying again and showing strength after a period of consolidation.

Why It Matters: XRP has been rallying sharply in 2023 after being mired in a legal battle with the U.S. Securities and Exchange Commission for nearly two years. The case is expected to conclude in the first half of 2023, and a favorable outcome for Ripple could help XRP continue to rally.

Chainlink is used by several top decentralized finance (DeFi) protocols and non-fungible token (NFT) marketplaces to connect smart contracts to real-world data feeds. As DeFi and NFTs continue to grow, Chainlink could benefit from increased demand for its services.

Hedera Hashgraph is designed to be able to handle up to 10,000 transactions per second and is secured by the Hedera Governing Council, which includes several large technology companies. As demand for faster and more scalable blockchain networks increases, Hedera could benefit.

Cryptocurrency markets are showing renewed strength again in 2023 after a difficult 2022. Several large-cap cryptocurrencies are rallying again Monday and could continue to show strength in the coming weeks.

Related Link: 3 Tips For Beginners To Start Investing In Cryptocurrency

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