XRP price surged more than 70% in the last week to touch close to the present critical resistance.
The asset is expected to climb even more highs as Ripple company’s new movements have heavily impacted XRP price
XRP price has become the talk of the town in recent days with remarkable gains within a short stipulated time. The asset has rallied more than 50% in the past 24-hours which is considered a pretty good gain.
Also read : Top 5 Reasons XRP Could Hit $1 This Year
But What Happen All of Sudden, That XRP Price Rallied to the Moons. Let’s List Them All
Ripple joined hands with Tranglo, a Malaysia-based payments company, by acquiring a 40% stake. This strategic move could stimulate the XRP price higher as it directly ties into the partnership.
Ripple’s recent proposals to build a “financially inclusive and prosperous future” may be the underlying justification for the XRP price rally. This was recently posted on the company’s blog, which summarized how the project would collaborate with “mission-driven financial technology firms, leading universities, NGOs, foundations, and social entrepreneurs.” In particular, to achieve greater economic fairness and opportunity for all.
According to reports, the judge overseeing the SEC case against Ripple made some bullish remarks for XRP holders in March. In the fight over whether XRP is a currency or a safe, it appears that the judge sees XRP’s worth as derived from its currency-like qualities as well as its usefulness, which distinguishes XRP from other common cryptocurrency options such as Bitcoin. And for XRP holders, that was extremely good news.
The XRP price rally has been a crucial factor in boosting the market cap for the entire altcoin market, which now stands at over $2 trillion for the first time.
Anyhow With a jump to two-month highs, XRP has fully recovered from losses incurred in December, when the US Securities and Exchange Commission (SEC) filed a lawsuit against Ripple for raising $1.3 billion via unregistered securities offerings.
Anyhow, price predictions continue to drive bullish sentiment among crypto investors in this altcoin. Even though bitcoin’s market dominance has declined, critics said the growing interest in altcoins will ultimately benefit the largest cryptocurrency.