Ripple has returned to its previous surge after a small reversal this past week. Bullish momentum is driving XRP higher this week. This token is up more than 24% in the past 24 hours. CoinMarketCap. It is also looking to return to $0.60.
Yesterday, the crypto market took a small tumble after an ongoing lawsuit by US Securities and Exchange Commission was thrown into doubt. The agency canceled a crucial closed-door meetingThe settlement date of July 31 is now in doubt. The market is back in the XRP hype Friday.
Please Read This: Ripple: XRP Claims $0.60, Can It Breakthrough To $0.75 This Weekend?
The Ripple data indicates a bullish rally for XRP
Ripple XRP has reached a critical point. This token is expected to gain more value due to important metrics. The crypto market has been watching how the token reacts to Thursday’s reversal to determine how it will perform going forward. next week.
Ripple is expected to continue its bullish momentum, and maintain XRP’s weekly gains of 24%. The XRP Ledger has seen significant growth. Santiment data It was noted that there has been a significant increase in new address registrations. This was the highest number since March.
The number of addresses that are active has also increased. On-chain analyst firm reported that the blockchain had observed over 47,3000 addresses active transacting XRP from July 17th to July 18th. Like the previous metric this is also the best mark XRPL’s seen since late march.
Please Read This: Ripple Up 40% as XRP Rally Reignites $1 Hopes
This is a sign that an update will be coming soon. Ripple is not one of those companies. These data points seem to be due to the negative sentiment towards XRP. These data points are due to the sentiment that XRP is facing.
Lawyer Fred Rispoli The lawsuit was expected to end by July 31. Markets could prepare if this is indeed the situation. If a ruling is made, XRP will only continue to surge. July 23rd and the Spot Ethereum ETF launch are also raising questions about its performance.
It is the investors’ offering that will drive crypto. ETFs should not be the only source of crypto market growth. increase asset prices, But speculation about what assets could be next This will also be a factor. As the SEC’s battle ends, XRP could benefit from this increasing hype.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: watcher.guru