On the 7th of October the market for all cryptos fell into the red. The cryptocurrency market, however, XRP did not suffer the same fate since it enjoyed a significant price rise over the course of the day.
XRP / Tether US 1D (Source: CoinMarketCap)
According to data provided by the cryptocurrency market tracker website CoinMarketCap, XRP is currently trading at $0.5207 after more than 6 percent increase in the last 24 hours, after having reached the record high of $0.5279 during the same period. Additionally the fact that XRP has been over 9percent in the green in the past week.
The volume of trading XRP’s 24-hour trading is also attracting attention today since it has increased over 60% and is currently at $2,892,691,591.
XRP Network Growth (Source: Santiment)
The excitement around the XRP cryptocurrency is also evident through the cryptocurrency’s growth in the network yesterday was the biggest it’s been in three months, with nearly 2,773 fresh XRP accounts made.
The situation is also looking positive in Ripple’s court battle in the case against SEC. It seems like Ripple can defend its claim it is XRP is not an investment. Ripple is also evidently pushing the SEC for a long time and it appears that they intend to bring the matter to the end by the close in the calendar year.
In examining the chart of XRP it is evident that the cost of the cryptocurrency has been able to surpass its key resistance point at $0.50. If the momentum of bullishness persists, it is possible that XRP could reach $0.66.
Related: Balmain was the first NFT member on XRP’s ledger.
