• XRP has been gaining traction due to the ongoing Ripple vs SEC case and has increased market movement and whales across the currency.
• An analytic platform, Santiment, reported that XRP has gained 6.2% in the last 24 hours while the majority of crypto has declined.
• Ripple’s XRP has also gained huge trading volume on various trading platforms like Binance, KuCoins, among others, climbing to the fifth largest cryptocurrency by trading volume.
The crypto world has been abuzz with news about Ripple’s XRP in the past few weeks. This was mainly due to the ongoing battle between Ripple and the SEC, with the regulator accusing the company of conducting an unregistered securities offering. The news has brought increased market movement and whales across the currency.
The increased traction of XRP was confirmed by Santiment, an analytic platform which reported that the currency has gained 6.2% in the last 24 hours, while the majority of crypto has declined. The platform further noted that this was due to a major pump in address activity over the past week and identified a pattern of big social dominance spikes leading to XRP price gains. This was further confirmed by the fact that XRP recorded nearly 136.19K daily active addresses.
On the other hand, XRP has also been gaining huge trading volume on various trading platforms like Binance, KuCoins among others. This was further confirmed by the fact that the currency has climbed to be the fifth largest cryptocurrency by trading volume at the start of this week on Binance.
The currency also managed to perform against Jim Cramer’s comments of XRP hitting zero, with popular analyst Michaël van de Poppe claiming that XRP could eventually hit $80. The analyst went on to note that the currency was still in a bull market, despite the current price action, and that there were chances of it reaching its all-time high of $3.84.
It remains to be seen if XRP will continue to gain traction and eventually hit $80 as predicted by the analyst. However, it is clear that the currency is making a comeback in the crypto market and is gaining increasing demand.