Ripple’s XRP Back to the Spotlight With February Highs

• Today, XRP is the only coin that has significant gains in its price.
• XRP price surged over 4% in a day.

Today’s major mover was Ripple native cryptocurrency XRP, as prices surged for a fourth day of a green candle in a week. Less than 24 hours after trading at a low of $0.3864, XRP/USD soared to an intraday high of $0.3957. Following the recent rally, the 4th largest altcoin XRP, now reached its highest level since February 21 as it approaches a cap at $0.40.

While the global crypto market is in the “Pullback period”, the most recent court decisions brought the SEC vs Ripple issue back into the spotlight. Also, the XRP price increase may result from a recent update on the Securities and Exchange Commission lawsuit against the XRP Ledger. 

Further, investors keep reacting to the court decisions from the SEC vs Ripple case, which was issued on Monday. Both requests from each party were granted and refused by presiding judge Torres. Also, additional motions by the SEC to exclude expert witness testimony was rejected by the courts. Giving the defendants a stronger position.

XRP Price Status

Uncertainty in the crypto industry was increased since the Silvergate Bank announcement about the closure. Following that, market leaders Bitcoin (BTC) and Ethereum (ETH) prices declined. 

However, XRP climbed about 4% in the last 24 hours, followed by a Wednesday increase of 2.3%. At the time of writing, XRP traded at $0.3945, with a market cap of $20 billion, and it has a 24-hour trading volume of over $1.9 billion, which rose about 21%. XRP is up 4% more than BTC and ETH. Also, XRP made its first trip back to the $0.40 range since February 21.

Moreover, NFT marketplaces and infrastructure providers CrossTower partnering with Ripple to bring a new business model for XRP Ledger. 

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