As the cryptocurrency market climbs back above $2.0 trillion valuations, Ripple’s XRP is one of the biggest daily winners in the top ten cryptocurrencies.
The XRP price is up 20% in the last 24 hours and is currently trading at $0.90 with a market cap of $42.9 billion. With this recent move, XRP has toppled giants like Cardano and Solana as it prepares for the next big rally for a return to the coveted top-five crypto club.
On-chain data provider Santiment reports that XRP’s recent price hike comes amid strong growth in its daily active addresses. The data provider reported†
XRP is up +37% for the past 4 days and is finally responding to the daily active address rise that started in mid-January. #XRPNetworkThe coin is currently a tap above $0.82 and is issuing the same addresses as it was in early November at $1.18.
Updates in Ripple vs SEC Case
The Ripple vs SEC case is taking a turn that is preferable for the crypto startup. Judge Analisa Torres recently ordered the unsealing of three documents in the Ripple vs SEC case.
However, attorney John E Deaton stated, “It will be nearly impossible to prove a true correlation between the price of #XRP and public announcements by @Ripple (i.e. partnerships). The SEC must also prove that Garlinghouse and Larsen sold #XRP in the US.”
Rather, the market sees it as a net positive for XRP, which is already reflected in the price. The Ripple vs SEC case is progressing rapidly and market analysts believe it could reach a conclusion in April 2022.
Any positive hearing in favor of Ripple is likely to push prices up. Since XRP has already made a move above $0.90, we can expect it to cross $1.0 in the near term. The year 2022 could be a defining year for XRP investors.
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 publication is not responsible for your personal financial loss.
About the author
Bhushan is a FinTech enthusiast and has a good flair in understanding financial markets. His interest in economics and finance draws his attention to the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In his spare time, he reads thriller-fiction novels and sometimes explores his culinary skills.
This post Ripple’s XRP Prepares Entry to the Top 5 After Flipping Cardano and Solana
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