According to statistics from CoinMarketCap, the market value of the XRP coin increased by more than $1.3 billion in the last day. Without adding stablecoins, the cryptocurrency is now projected to have a total capitalization of $24.88 billion, ranking it as the fourth-largest crypto asset. If the data is to be trusted, XRP still has a maximum market valuation of $127.9 billion. On January 5, 2018, this record-breaking high was attained.
The significant increase in the number was the consequence of XRP’s price rising 6.5% from its previous low of $0.45, which occurred as a result of a significant correction in the cryptocurrency market. Overall, this incident has caused the price of XRP to drop by more than 10.5% over the last seven days, cancelling out all of its previous month’s activity.
XRP is now trading at $0.48, which at least makes it possible to test the range of $0.55-$0.6 per coin.
Future prospects for XRP will mostly be influenced by the SEC’s case against Ripple. Remember, the procedure will decide if XRP is a security or not. It was anticipated at the start of the year that the decision would be made public by June. Even Brad Garlinghouse, the CEO of Ripple, has similar goals. But even though this flimsy deadline is still one month away, little seems to have changed.
