On a typically lazy Sunday, XRP and Stellar are performing impressively. The price of Stellar and XRP are continuously increasing. In the last 24 hours, XRP has increased by 17% to $1.6, its highest price since Monday, and Stellar has risen 18% to $0.7, its highest price ever.
<h2>The XRP and Stellar Connection</h2>
Considerably, these two coins are related as <a href="https://www.cryptoknowmics.com/news/jed-mccaleb-received-2777-million-worth-of-xrp/">Jed McCaleb</a> worked on these two coins. McCaleb was one of the creators of the Ripple protocol, which runs on the XRP cryptocurrency. To focus more on Stellar (XLM), he left Ripple in 2013. Stellar’s payments network is quick, inexpensive, and easy to use, similar to Ripple. 

XRP is a cryptocurrency based on Ripple’s market capitalization is $57 billion, while the market capitalization of Stellar is $18 billion.

Comparatively, Stellar has <a href="https://www.cryptoknowmics.com/news/tala-teams-up-with-stellar-and-visa-to-bank-the-global-unbanked/">performed</a> much better than Ripple in the past few weeks. It has increased by 31.9% in the last seven days, while XRP has only increased by 4%.

Elon Musk's economic <a href="https://twitter.com/elonmusk/status/1392602041025843203?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1392780304138473473%7Ctwgr%5E%7Ctwcon%5Es2_&amp;ref_url=https%3A%2F%2Fdecrypt.co%2F71042%2Fxrp-price-rises-17-stellar-sets-all-time-high" target="_blank" rel="nofollow noopener">tweets</a>, in which he slammed Bitcoin as unfriendly to the world, contributed to both companies' growth. Musk depressed the price of Bitcoin from the mid-$50,000s to $49,000 in a single tweet this week.

[embed]http://twitter.com/elonmusk/status/1392780304138473473[/embed]
<h2 style="text-align: left">Why Does Bitcoin Consume Too Much Energy?</h2>
Both Stellar and XRP use less energy as compared to Bitcoin; to authenticate users, they depend on a small number of blockchains, whereas Bitcoin relies on a large network of power-hungry computers.

Other, less environmentally harmful coins have risen in popularity as a result of<a href="https://www.cryptoknowmics.com/news/proof-of-work-cryptocurrencies-spikes-after-elon-musk-ditches-bitcoin/"> Musk's withdrawal of Bitcoin</a>. <a href="https://www.cryptoknowmics.com/news/hedera-hashgraph-presents-proof-of-concept-to-texas-secretary-of-state/">Hedera Hashgraph</a> has increased by 16.37% to $0.36, Solana has increased by 15% to $47, Cardano has increased by 10% to $2.39, and Algorand has increased by 8% to $1.53.

The majority of the above are based on proof-of-stake, a consensus algorithm that allows those who own the most coins to validate transactions.

Price of XRP Increases By 17% Bringing Stellar To A New Peak

XRP has increased 17% to $1.6, its highest price since Monday, and Stellar has risen 18% to $0.7, its highest price ever, in the last 24 hours.

Kavya Barua is a voracious learner who is fascinated by crypto and Fintech advancements. Graduated from Janki Devi Memorial College's B.A (Hons) English program at the University of Delhi. She aspires to be a successful professional, having a keen interest in learning and achieving results.

Price of XRP Increases By 17% Bringing Stellar To A New Peak

Top Picks