XRP, the seventh most valued crypto asset by market capitalization, is presently enjoying tons of buying pressure regardless of the recent price declines in the crypto asset.
XRP was valued at $0.70847 at the time of this publication, up 20.25 percent on the day. This would be the highest percentage increase in a single day in 9 weeks.
The increase pushed the crypto market cap to about $32 billion, accounting for 1.67 percent of the entire crypto market value. The market capitalization of XRP reached $31.5 billion at its peak.
In the last 24 hours, XRP had traded between the range of $0.61963 and $0.70849.
The crypto asset has increased exponentially by 26.69 percent this week. At the time of writing this article, the value of XRP traded for the day was about $7.4 billion, or 4.92 percent of the combined volume of all crypto assets. For the week, XRP traded in a range of $0.5309 to $0.7085.
Such remarkable gains will undoubtedly calm the nerves of many XRP investors who are concerned about Ripple’s pending legal battle with the strong financial regulator.
Meanwhile, some crypto experts, on the other hand, contend that the legal battle between Ripple and XRP in the United States had no effect on its long-term price rise. When XRP is relisted on Coinbase and other top American crypto exchanges, experts believe it would have a strong bullish bias.