As the cryptocurrency market surges past once again above $2.o trillion valuations, Ripple’s XRP has been one of the biggest daily gainers among the top ten cryptocurrencies.
The XRP price is up 20% over the last 24 hours and is currently trading at $0.90 with a market cap of $42.9 billion. With this recent move, XRP has flipped giants like Cardano and Solana as it prepares for the next major rally for an entry back into the coveted top-five crypto club.
On-chain data provider Santiment reports that XRP recent price surge comes amid strong growth in its daily active addresses. The data provider reported:
XRP is +37% the past 4 days, and finally is reacting to its daily active address uptick that started in mid-January. #XRPNetwork‘s coin currently sits a tick above $0.82 and is outputting the same addresses as it did in early November at $1.18.
Updates In Ripple Vs SEC Case
The Ripple vs SEC case is taking a turn that’s preferably good for the crypto startup. Judge Analisa Torres has recently ordered the unsealing of three documents in the Ripple vs SEC case.
However, lawyer John E Deaton stated that “It will be near impossible to prove any real correlation between #XRP’s price and public announcements by @Ripple (ie partnerships). The SEC must also prove Garlinghouse and Larsen sold #XRP in the USA”.
The market is rather seeing it as a net positive for XRP which has already been reflected in its price. The Ripple vs SEC case is progressing fast and market analysts believe that it might come to its conclusion by April 2022.
Any positive hearing in favor of Ripple is likely to drive prices higher. As XRP has already made a move above $0.90, we can expect it to cross $1.0 in the near term. The year 2022 could prove to be a defining one for XRP investors.
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Source: https://coingape.com/ripples-xrp-prepares-an-entry-to-the-top-5-after-flipping-cardano-and-solana/