Ripple (XRP) staged a sharp rally on Thursday, rising over 50% on the trading session as worries surrounding regulatory crackdowns in South Korea and China appeared to ease.
The crypto was trading at $1.58 on Thursday after trading as low as $1.05 on Wednesday.
Bitcoin was also on the path to recovery, trading at $11928, up 7% on the day.
"Trade volumes were very noisy yesterday as the bulls and bears fought it out and some sort of calm has appeared on the markets after what has been a severe correction," said Charles Hayter, chief executive of CryptoCompare.
XRP was one of the best performing cryptos of 2017, boosted as Ripple struck various deals with big financial names.
Last week, there was news of a partnership with money transfer company MoneyGram to pilot XRP in their payment flows.
In 2017, it also announced deals with the likes of American Express to link up the Ripple network to enable blockchain transactions.
The wider sell-off across the crypto universe over recent trading sessions had appeared to hit sentiment in XRP disproportionately hard.