XRP Prepares for a Rally to $3 and Climbs 10% from a $1.20-Price
California, USA – XRP trades in a range of $1.30 to $1.38 in the last few hours, ending at $1.38. This 10%-boost leads the performance to rally after it didn’t trade well since last month. Also, analysts think it might even reach $3.
XRP traded $1.38 in the recent hours, and this is a 10%-boost from August 27, where it faced a poor performance. As the price moves up, it pushed the value of the market capitalization of this crypto to $64.41167B. It’s 2.73% of the entire digital asset market capitalization. Back then, this crypto was able to reach a market capitalization of $83.44071B.
The price traded in a range of $1.30 and $1.38. In the last week, the value boosted by 21.8%, and the volume of XRP was $5.08492B. It used to trade at $1.09 in the previous week, but now it increased to $1.38. However, the price is still down compared to the all-time high price of $3.29 when Ripple introduced it in the crypto market.
XRP has been rallying on its second-leg bull-run, where Ethereum-killer projects lead it. Also, crypto analysts predict that this crypto will gain over 120%. It might rally until it reaches the price of $3, obtaining an 80% monthly gain. One factor influencing its price is the case filed by SEC or Securities and Exchange Commission against Ripple in December 2020. It has been almost a year, but the case is still ongoing, and both parties need to comply with the approved court by the Judge.
Ripple filed the motion for SEC to provide details of their 22 employees to confirm if these traded cryptocurrencies or not. This motion was after SEC filed one for Ripple to disclose the information of their Slack history, which Ripple didn’t agree with as well. Both motions were approved by the court, putting the game into a tie.
Ripple has been preparing the documents requested by the court regarding the Slack history communication, but SEC still didn’t provide any information, objecting to the request.