Despite a quite negative day for most digital assets in the cryptocurrency market, XRP is trading in the green among the top 20 by market cap. According to Coincu data, XRP is currently up 6.62 % in the last 24 hours, trading at $0.776 at the time of writing.
In less than a day, the digital asset has seen an inflow of more than $2.4 billion, rising from $34.95 billion to $37.4 billion in the last 24 hours, implying that XRP has nearly recovered its April losses. Notably, the market cap dropped as low as $33.12 on April 11.
What makes XRP’s Price Surge?
Whether it’s because of recent legal rulings in Ripple’s favour or because the price of XRP is rising despite bear market situations, XRP is on the rise. The token has separated itself from the current market price dpi. Altcoins change to fluctuations in the price of Bitcoin (BTC), and Bitcoin (BTC) has decreased by 1.95 % in the last 24 hours, and it is currently trading around the $40,200 mark. The token, for its part, has seen considerable gains today, and it is the token with the biggest gains among the top 100 cryptocurrencies by market capitalization.
Ripple’s Court Case Is Going Well
Ripples CEO Brad Garlinghouse recently stated that the company’s legal battle with the US Securities and Exchange Commission was going “exceedingly well.” The recent statements made by Ripple’s CEO on the company’s long-running lawsuit appear to be boosting the current rise in the price of XRP. Mr Garlinghouse claims that the commission’s investigation into their case is nearing its end.
In an interview with CNBC, Garlinghouse expressed his excitement that the case is moving considerably more quickly than he had anticipated. He believes the judicial system is far too slow because the case has been dragged out for more than 15 months.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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