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Saturday, May 15, 2021

XRP Price Surges To Record Highs Following Recent Legal Rights

The price of XRP has successfully managed to rally over 30%. On the other hand, the retail traders have been rotating towards cheaper altcoin options. In addition, the sentiments of the investors have become positive following the latest legal victories of Ripple against the SEC.

Recently Ripple’s price exceeded its latest all-time high on 13th April. The trading volume surged during the initial morning session and continued to increase throughout the midday.

New Ray Of Hope For XRP

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According to the reports of TradingView, Ripple had experienced a $1.42 low prior to witnessing the massive 34% rally that drove the price to the $1.88 high.

This spike in price took place on the very same day that both Bitcoin and Ethereum established record highs. Simultaneously the cryptocurrency sector has been receiving increased mainstream attention owing to the reason that Coinbase has entered direct listing on 14th April.

The XRP momentum was building up for the last couple of weeks because of the rows of legal victories that Ripple attained. The Securities and Exchange Commission of the United States of America had filed a lawsuit against Ripple. However, rumors are doing the rounds that XRP might get re-listed across multiple exchanges.

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VORTECS data revealed that the token started to an uptrend on 7th April after they noticed the green signal and touched the 68 high. On 9th April, the token rallied the 83% increase in price for the next 3 days. Eventually, XRP hit the 87 high a few hours before 13th April.

XLM also experienced an 18% rally by reaching a $0.678 intraday high from a $0.576 intraday low. Both XLM and XRP are expected to see positive rallies in the near future.

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