- XRP managed to surge over 50% since last week amid the SEC case optimism and increased development activity.
- Bitcoin faces rejection near a critical territory, drifting back towards the $45,000 mark.
XRP has registered explosive prices over the past seven days, adding over 50% to its total value. Such moves came as the altcoin appeared to decouple from other cryptocurrencies. With that, the token rallied to solidify over $1.00.
While writing this content, XRP exchanges hands at $1.26 following a 10% surge over the past 24 hours. Market analysts attribute the XRP momentum to the increasing development activity on the network and the current mood by the Ripple vs. US SEC case. The two parties might settle their differences soon.
Blockchains and crypto firms have witnessed high-profile settlements with financial regulators over the recent weeks. For instance, CNF reports that SEC settles with a Decentralized finance firm recently. That had market players speculating that the regulator may plan to end its issues with Ripple. Meanwhile, legal professionals stated that such an event might not happen until this year’s end or early 2022.
Besides regulatory optimism, Ripple has witnessed increased improvement. Santiment highlighted the developments in its recent tweet.
Moreover, similar to other massive projects, Ripple plans to jump into the NFT marketplace. Keep in mind that the non-fungible token business has been surging over the past months. David Schwartz, Ripple’s CTO, has promoted the platform to its highs. The official highlighted XRP ledger benefits in his post. He noted that the Ledger has a combination of high speed, quality payments, and lows cost features required to update NFT development at scale.
BTC Rejected at $50,000
Bitcoin has seen positive trends over the weekend. However, the leading coin faced rejection near $48K as it targeted $50K. While writing this content, BTC lost around 5% to trade around the $45,000 levels. Though the $50K rejection, BTC secures support near $45K. That shows optimism, but investors need to be cautious.
For now, the crypto market awaits for the correct catalysts to register price surges.
Will XRP sustains its highs regardless of the broader market move? Share your comments below.