Investors continue to be highly active in the cryptocurrency market, pushing altcoin values to all-time highs. The major architect of this parabolic advance, XRP, is continuing expanding at a rate of 64.84% during the previous day as individual investors keep accumulating the now-liberated digital currency steadily.
With its current rise, XRP is now valued at $0.7784 on spot markets and is continuing to increase. Early purchasers overnight appear to be hanging onto their bags despite the asset’s apparent peak in accumulation, as is characteristic of bears known to take profits.
Investors’ choice to continue with XRP is evidence of the restored confidence presently linked with the continuing legal dispute between the United States Securities and Exchange Commission (SEC) and blockchain payments company Ripple Labs Inc., which relates to XRP’s future and is being clarified.
With the token’s relisting on leading digital currency trading platforms, accumulating XRP currently carries a low regulatory risk. American investors now have a whole new route to purchase the digital currency thanks to the coin’s relisting on sites including Coinbase Global Inc, Kraken, and Binance US, among others.
Should cool off be expected soon?
In the realm of trading, there is a special rule that calls for a regular alternation between price increases and decreases.
There is a good chance that XRP may soon reverse its growth after rising as much as 70% in the last week. Additionally, legal professionals with a focus on cryptocurrencies have cautioned that the Ripple litigation is still ongoing and, as a result, that more challenges may be on the horizon.
For the time being, XRP has moved up the rankings as a result of its most recent rise, and it has reclaimed the position of fourth-largest digital currency by market value.
