2 - 4 minute read
Ripple’s XRP has been making waves in the cryptocurrency market, with the altcoin recording gains as high as 15% in the past few days. While other leading altcoins by market valuation have seen upsets in their price values, XRP has managed to secure impressive gains, much to the delight of XRP bulls.
According to Santiment, a cryptocurrency market intelligence platform, the bullish pattern in XRP’s price can be attributed to a spike in network address and social dominance within the past week. The platform notes that these factors have triggered interest in the asset and resulted in a price upswing.
XRP bulls have also managed to roll over gains into Friday, with the asset’s 24-hour gains remaining at 2.89%. Additionally, the asset’s 7-day performance at 12% hints that XRP bulls are building upward momentum. With prices currently at $0.37, the next few days are crucial for the altcoin.
XRP has also benefited from a recent move from whales, with large amounts of XRP tokens being moved according to WhaleAlert. These purchases caused a 10% upswing in the price of XRP, which quickly reacted to the moves.
Ripple supporters are also eagerly awaiting the final verdict from the ongoing SEC vs Ripple case. Dan Gambardello, a popular crypto pundit, has predicted that the case will get a ruling soon and that it could be a “huge pivot point” for a crypto shift from bear to bull on the macro level.
All these factors make it a good time for investors to be bullish on Ripple and XRP, as the crypto market is showing signs of growth. With a favorable ruling in the SEC vs Ripple case, the crypto market could see a significant shift in the coming months.