As the total market value of all digital currencies is up by 1.61% to $1.14 trillion today, the ecosystem as a whole is turning back towards the positive. Given the current resurgence of most cryptocurrencies, the XRP price is exhibiting a pretty strong level of stability that rivals the other top assets on most traders’ watchlists.
XRP is now trading at $0.4613, representing a little positive 24-hour gain of 0.14%.
Compared to Bitcoin (BTC), which is up 2% to $27,284.34, and Ethereum (ETH), which is trading at $1,852.25 after gaining 2.28% over the last 24 hours, this daily rise is quite sluggish.
XRP has typically maintained better price increase over the previous seven days when compared to these two coins and other coins in the top 10 digital currencies, despite these evident realisations. Bitcoin has only increased in value by 0.71% throughout this time, however Ethereum has seen a total increase in value of 1.78%.
On the other side, XRP has seen a 9.08% increase throughout this period, demonstrating the consistent bullish rhythm that has been in place since last week.
Decoupling from general trend
Every digital currency has a unique culture and problems of its own, all of which have a significant influence on how it develops over time. In spite of the ongoing legal dispute between the U.S. Securities and Exchange Commission (SEC) and Ripple Labs Inc., which appears to be a problem, XRP has carved out a better development path for itself, essentially decoupling from the general market trend.
The XRP community is still quite inebriated with the potential assumption that the price may fall if the lawsuit’s decision does not go in Ripple’s favour. On the other side, if the case goes in Ripple’s favour, there is also anticipation that XRP would have a parabolic run, with the token generating a stand-alone bullish ride independent of market impact.
