Ripple's XRP (XRP/USD) token has gained over 11% within 24 hours as it benefits from several positive news developments.
The digital token reached $1.08 at roughly 03:00 UTC (10 a.m. EST), roughly 19.85% higher than the same time the day before, according to CoinMarketCap.
Analysts have several explanations for the surge, including banks' continual adoption of Ripple technologies and rumors that major digital currency exchange Coinbase will soon list the XRP token for trading.
XRP is still trading more than 70 percent off its record high of $3.84 hit in early January.
Eight of the top ten cryptocurrencies are also in the green Monday.
Bitcoin (Bitcoin) has gained 2,99% to reach $11 548,60, according to CoinMarketCap.com.