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Ripple’s XRP (
$1.41 ) has risen by nearly 10% against Bitcoin (
$110,171.00 ) (BTC) despite the broad market sell-off in the last 24 hours, according to CryptoSlate data.
The XRP ( $1.41 ) /BTC spot pair on Binance increased by 0.00000129 during the reporting period to as high as 0.00001859. However, it has retraced to 0.00001843 at the time of writing.
Source: Tradingview
According to Tradingview data, the XRP ( $1.41 ) /BTC has increased by more than 36% over the past week.
Interestingly, the XRP ( $1.41 ) token also rose by 5% to 0.000284 against Ethereum (
$0.00 ) (ETH), according to CryptoSlate’s data.
XRP ( $1.41 ) ’s USD value rises to a five-month high
When XRP ( $1.41 ) ’s value is denominated in U.S. Dollars, it is the best-performing top 10 digital assets within the last 24 hours.
According to CryptoSlate’s data, the token rose 4.71% to a five-month high of $0.49955 at the time of writing. A look at its price performance over the past week showed that XRP ( $1.41 ) increased by 27% and 30% during the past month.
Meanwhile, XRP ( $1.41 ) ’s social dominance has also soared to a new high during the period. Blockchain analytical firm Santiment reported that the asset’s social dominance is at its highest point in a year following its surge to $0.49.
Source: Santiment
Data from Luna Crush corroborates the above. According to the data aggregator, XRP ( $1.41 ) ’s social engagement has soared by 40%, and its social dominance is up 5.8% to 1.51%.
The increased attention has translated to an over 100% growth in its trading volume in the last 24 hours — its $3.13 billion is higher than that of BNB (
$645.65 ) , Cardano (
$0.42 ) (ADA), and Dogecoin (
$0.223 ) (DOGE) combined, according to CryptoSlate’s data.
Meanwhile, the U.S. Commodity Futures Trading Commission’s (CFTC) classification of Bitcoin ( $110,171.00 ) , Ethereum ( $0.00 ) , and Litecoin (
$56.49 ) (LTC) as commodities renewed hope that Ripple could win its case against the Securities and Exchange Commission (SEC).
The U.S. SEC alleges that XRP ( $1.41 ) is a security — a claim that is vehemently denied by the Ripple and several crypto stakeholders.
Posted In: Ripple, Analysis
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