Last updated on May 18th, 2024 at 12:27 pm
The sixth largest cryptocurrency by market cap, XRP experienced a surge in trading volume consequently raising its price to $0.5. In an exciting development, XRP has shown resilience despite the ongoing legal battle between Ripple vs SEC.
Investors’ confidence has been restored after the price per token reached and crossed the $0.5 mark, indicating a significant milestone. As a result, the trading volume of XRP rose more than 85% over the previous day.
Compared to previous spike events on March 18, it is safe to expect a further increase in the price of the token. During the previous surge leading to March 18, the price of XRP grew by 45% within a period of 10 days.
What this means for XRP
If we continue to believe that all news is priced in advance, then perhaps we will soon have some major information on XRP and what surrounds the asset. Meanwhile, speculations about the possible end of the Ripple vs SEC case cannot be ruled out.
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Nevertheless, the recent development in the price of XRP is good news for investors as it restores their confidence in the project. This increase in value not only illustrates the possibility of a future market value rise for the token but also signifies rekindled investor confidence.
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Impersonation in the Ripple vs SEC case
Meanwhile, 36crypto previously reported a case of impersonation by an XRP community member. A user @XRPP on Twitter posted a conversation between him and a fake Judge Torres account. According to the conversation, Judge Torres’s parody indicated that she is ready to release a ruling in the case versus the Securities and Exchange Commission.
Even though the conversation was obviously fake, Ripple’s CTO David Schwartz reacted by reminding the community that impersonating a Federal Judge is (probably) a crime. Read the full story here.
XRP price today
According to live data from CoinMarketCap, the price of XRP today is $0.5015. XRP is up by 4.60% in the last 24 hours. Furthermore, Ripple (XRP) is ranked #6 on the CoinMarketCap chart with a live market cap of $26,067,917,937.
Source: CoinMarketCap
Victor Swaezy
Victor Swaezy is a crypto-journalist with more than 3 years of experience in covering blockchain technology and digital currencies news. Known for his comprehensive reporting, Victor has contributed to leading industry publications such as Coinfomania and Crypto News Guru, providing market participants with the required knowledge to make informed decisions. When he is not working, he loves to watch movies and have a good time.