Why Ripple's XRP Outperformed the Other Top Cryptos This Week

Ripple's XRP token has gone from the worst performing top-5 cryptocurrency to the best performer in just one week.

The news come, of course, as the wider crypto markets have regained poise over the last week.

While the total market capitalization of all cryptocurrencies is up 30 percent week-on-week, XRP has outpaced even that notable recovery.

XRP had a disastrous start to the year, dropping 77.77 percent in the first quarter.

XRP had been looking very oversold, as per the daily relative strength index, and a rally was perhaps inevitable.

News flow may have also played a role in the gains, with CoinDesk reporting last week that Spain-based banking giant Santander is launching One Pay FX - a cross-border payments app developed in partnership Ripple.

The news garnered lots of attention from the investor community and may have put a bid under XRP. It's worth noting that the application does not use XRP token.

The technical charts, too, indicate that XRP could continue to outperform bitcoin in the near future.

Taking all this into account, XRP may see a more gains against BTC over the next couple of weeks.

A daily close below 0.000069 BTC would signal a bullish-to-bearish trend change and would open doors for a drop to 0.000060BTC. XRP image via Shutterstock.