Ripple’s original token prices are high, XRP, while other major cryptocurrencies are trading under heavy selling pressure. XRP has become the biggest winner in the last 7 days, beating all market sentiment.
Is Sologenic a key behind XRP spike?
As XRP charts, Sologenic may be the main reason behind the current spike in XRP prices. Sologenic is a fast and secure DEX and NFT marketplace built on the XRP ledger. XRP/Slogenic prices are up more than 10% in the last 24 hours.
XRP charts also suggest that the price of XRP/STX has risen more than 32% in the same time. However, STX is the first multi-token soft staking platform on the XRP ledger.
It appears that a recent spike in NFT build on XPRL is causing Ripple’s native token to soar. According to Coinmarketcap, XRP prices are up 11% in the past 24 hours. However, the price has increased by 35% in the last 7 days to beat other top cryptos.
XRP’s 24-hour trading volume is up 11% to $4.18 billion. It still has a market cap of over $22.3 billion amid the recent crypto market dump.
Ripple winning the crucial long ruinous case?
Previously, Coingape reported that Crypto whales shifting from Ethereum to Ripple’s native token, ETH, the second-largest cryptocurrency, has fallen 16% in the past 7 days. Meanwhile, Ethereum has just undergone a historic transition from PoW to PoS.
According to a report, the Ethereum price has registered a massive correction. Since then, more than 20% has been lost.
However, the XRP price is on an upward trend as both sides in the Ripple lawsuit filed motions for the Summary Judgment. This ultimately led to a boost in investor sentiment.
However, a new Amicus Curie has just entered the Ripple lawsuit. The Chamber of Digital Commerce requested access to the file.
Ashish believes in decentralization and has a keen interest in evolving Blockchain technology, the cryptocurrency ecosystem and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he’s not writing, he plays video games, watches a thriller, or works out outside. Reach me at [email protected]
The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or the publication is not responsible for your personal financial loss.
This post Is Sologenic Driving XRP Price High Amid Tumbling Crypto Market?
was published first on https://coingape.com/is-sologenic-driving-xrp-price-high-amid-tumbling-crypto-market/