XRP Price Hits 7-Day High, Lead the Growth of Altcoins
The crypto ecosystem is experiencing a modest bullish rally today, with total market cap up 0.24% at $813.29 billion. Among the top 10 cryptocurrencies, XRP stands out in terms of its growth track and trading volume in the last 24 hours. XRP price hits a 7-day high to lead the growth of altcoins.
The coin is leading the pack and is currently changing hands at $0.3677, up 4.93% over the past 24 hours, according to data from CoinMarketCap. Unlike Bitcoin (BTC) and Ethereum (ETH), with a weekly upshot of 0.40% and 1.40% respectively, XRP is up by 7.13% within the same time span.
The coin’s metrics are up in unison as its 24-hour trading volume went up by 143.81% to $947.9 million. Its figures back its seven-day high of $0.3691 as it leads the altcoin’s growth today.
XRP has had a rather tumultuous year, particularly with the fact that it was at the center of the legal brawl between its affiliated blockchain payments firm, Ripple Labs Inc, and the United States Securities and Exchange Commission (SEC).
While the regulator alleged that Ripple sold the XRP coin as an unregistered security in the $1.3 billion lawsuit filed in December 2020, the company is arguing that its use of the cryptocurrency is as a payment token.
At the moment, XRP holders and investors are generally unfazed by the ongoing lawsuit. This is because many experts believe Ripple is on track to get a favorable verdict as the key timelines in the case show the end is in sight. The community’s commitment was, however, tested over the past few days by the spat between Ripple CTO David Schwartz and self-proclaimed Bitcoin inventor Craig Wright.
As reported earlier, Wright called XRP “the most useless pump and dump scheme” in the blockchain space. This comment was able to derail the coin’s growth momentum, which can be likened to the XRP community’s way of saying the coin is not a so-called pump-and-dump token.