The price of XRP has surged tremendously, attaining yearly highs of $1.14 on Apr. 6 for the first time since March 2018. XRP has subsequently reclaimed the 5th spot after its market valuation recovered to around $41 billion.
From a technical point of view, analysts deem that XRP’s breakout has long been overdue after an overstretched consolidation. Analysts at Santiment also noted that the social volume of XRP has been surging alongside other digital assets.
The progress made so far in the Ripple lawsuit also contributed to the surge in XRP price. Ripple (XRP) holders have been allowed to file a motion on their behalf to intervene in the SEC’s ongoing lawsuit. Also, Ripple has been granted access to the US SEC documents “expressing the agency’s interpretation or views” on the subject of crypto assets.
XRP is trading presently at $0.951 after a retreat from its yearly highs.
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