Ripple rebounds, bullish momentum continues, XRP rises 24%
This week, Ripple staged a small reversal and then rushed forward, and the price of XRP soared by more than 24%! According to CoinMarketCap data, the digital currency soared in 24 hours and aimed at the target of $0.6.
Previously, due to the unsuccessful lawsuit with the US Securities and Exchange Commission (SEC), XRP fell slightly yesterday because the SEC canceled an important meeting, which discounted everyone's hopes for a settlement on July 31. But the market became lively again on Friday, and the hype of XRP returned.
Speaking of which, Ripple's XRP is now on the cusp of the storm. It has been climbing steadily this week, and several key indicators indicate that it can continue to rise. The market is watching it, wondering how it will perform next week after the small pullback on Thursday.
Everyone guesses that Ripple's current surge will continue, and it may even rise by 24% every week. Especially on the XRPL (XRP ledger) side, the number of new addresses has been rising rapidly, reaching a new high since March. In addition, there are more active addresses. From July 17 to 18, there were more than 473,000 addresses trading XRP, which was also the busiest time since late March.
When these numbers rise, it is easy for everyone to think that there is something new coming. But this is not the case with Ripple. It seems more like market sentiment is driving it. From the rumors of settlement to the legal battle with the SEC, everyone is full of expectations for XRP.
The lawsuit will be decided on July 31. If this is true, the market may have already been warming up. If it is really judged, XRP may have another rise on July 23. In addition, the launch of the Spot Ethereum ETF has added fuel to the entire cryptocurrency market. Once ETFs come, asset prices will rise. Everyone is still guessing what the next hot asset will be. XRP may be able to take advantage of this favorable trend and become popular again!
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