The global crypto market cap has slightly moved upwards by 0.45% in the last 24hrs, yet it is below the $1 trillion mark. This is led by the firstborn currency, Bitcoin which is still fluttering between the $19,000 and $18,000 range.
The flagship currency’s price action has pulled down the majority of cryptocurrencies on a red flag. However, the sixth largest cryptocurrency by market cap, XRP is one among a few altcoins that are seeing a rise in price action.
Ripple’s native currency has now successfully moved past its downward trade which lasted nearly 528 days. Unfortunately, XRP had gained little to less attention during this bear market and now the currency has amazed the crypto community. Also, XRP has turned out to be one of the highest-gaining assets at various times.
At the time of publication, XRP is selling at $0.49 with a spike of more than 12% over the last 24hrs.
XRP Price Gains 62% In A Week
Meanwhile, a pseudonymous crypto analyst and trader known as Cryptoes was one who broke out news via Twitter post along with an XRP chart that consists of 1-day bars from March 2021 to till date.
The month of April 2021 was the time when XRP succumbed to the bear trap and had been struggling since then. Before the altcoin was blanketed with negative trade, XRP had hit a peak of $1.8 in April 2021. After hitting this peak the currency had a drastic fall to $0.52 in July 2021.
However, the present rally has reversed all its previous instability amidst the present bearish sentiment hovering over the entire crypto space. XRP has gained a whopping 52.24% in the last week exceeding most of the top cryptocurrencies.
On the other hand, the US Securities and Exchange Commission (SEC) has filed an appeal at the court for summary judgment for the XRP lawsuit which will see a conclusion to a long-running legal dispute.