Connect with us

Cryptocurrencies

How XRP Defied the Market and Rose in Value in the Last 24 Hours

Published

on

Ripple XRP

The crypto ecosystem is undergoing a rapid transformation, with both opportunities and challenges arising from its innovation and growth. XRP has shown some signs of recovery after a prolonged bearish trend, increasing by 1.83% in the last 24 hours to $0.4882. 

However, the overall crypto market cap has declined by 0.57% to $1.07 trillion at the time of writing, indicating that the crypto ecosystem still faces significant headwinds and uncertainties.

XRP has shown a positive trend in its price against Bitcoin (BTC) in the past few days, indicating a possible decoupling from the dominant cryptocurrency. Many XRP supporters believe that this is a crucial step for the digital currency to achieve its true potential in the long term.

While XRP gained 1.83% in the last 24 hours, BTC dropped by 2.1% in the same period. This suggests that XRP is becoming more independent from BTC’s influence and may follow its own path based on its fundamentals and market sentiment.

The rising trend of XRP’s growth was confirmed by the huge increase in its trading volume in 24 hours, relative to Bitcoin’s. XRP’s trading volume surged by over 82% in one day, while Bitcoin’s trading volume remained almost unchanged, suggesting that no new capital is entering the leading cryptocurrency at the moment.

Ripple XRP

Among the top 10 cryptocurrencies by market capitalization, XRP is the only one that has shown positive net growth in the recent period, indicating a strong bullish sentiment in the short term.

XRP’s Future Remains Hopefull Despite Ongoin Legal Issues

XRP’s performance in the market is remarkable given the ongoing legal dispute between its parent company Ripple and the SEC. The outcome of the lawsuit is still uncertain, and there is a chance that the SEC could win the case against Ripple. This would have serious implications for XRP and its holders.

Despite the unclear regulatory environment, XRP has been showing positive signs of growth based on the business achievements of Ripple Labs and the technical and product innovations of XRP Ledger (XRPL), among other favorable factors. XRP is still considered one of the most undervalued crypto assets by experts, but it has a promising long-term growth potential.