XRP, the seventh most valuable crypto asset by market value, is currently enjoying high pressure amid recent pullbacks seen in the price of the flagship crypto asset.
At the time of writing, XRP was trading at $0.70847 up 20.25% for the day. It was the biggest one-day percentage gain since about 9 weeks ago.
The move upwards pushed the crypto market value to about $32 billion or 1.67% of the total crypto market value. At its highest, XRP’s market value was pegged at $31.5 billion.
XRP had traded in a range of $0.61963 to $0.70849 in the previous twenty-four hours.
For the week, the crypto asset has seen an exponential gain of 26.69%. The volume of XRP traded for the day at the time of writing stood around $7. 4 billion or 4.92% of the total volume of all crypto assets. XRP traded in a range of $0.5309 to $0.7085 for the week.
Such impressive gains would surely soothe the nerves of many XRP enthusiasts bothered by the ongoing legal tussle between Ripple and a powerful financial regulator.
Some crypto pundits however argue that the legal tussle between Ripple and XRP in the USA is not really affecting its price rising in the long term. Experts envisage it is going to be a super bullish bias for XRP when it is relisted on Coinbase and other top American crypto exchanges.
Ripple’s XRP is often tagged as the “remittance network” and currency exchange that independent servers authenticate. The crypto is known as XRP and transfer times are super-fast.
Ripple (XRP) plays dual roles as a payment platform and a currency. The platform is an open-source platform that was created to allow quick and cheap transactions.