Currently trading at $1.01, XRP has seen a growth of over 40% over the week. No other coin out of the top 15, by market cap, has been able to perform parallel to XRP.
XRP Could Go Much Higher
In a recent tweet, citing the growth of over 18 percent during the 24 hours, On-Chain analytics; Santiment tweeted:
$XRP is enjoying a+18% day on a nice decoupling from $BTC and the rest of #crypto currently. Watch for an uptick in the address activity (unique addresses interacting daily) & network growth (new addresses created), which would push this rally further.
$XRP is enjoying a+18% day on a nice decoupling from $BTC and the rest of #crypto currently. Watch for an uptick in the address activity (unique addresses interacting daily) & network growth (new addresses created), which would push this rally further. https://t.co/Yr9abjv2EW pic.twitter.com/JE44wtJBgL
— Santiment (@santimentfeed) August 11, 2021
The last time XRP traded at the same price level was earlier in June, before losing almost half of its value in the following couple of weeks as the coin traded at a $0.70 price level during the last days of the month. Then again on July 22nd it barely traded over the $0.55 price level, akin to June 22nd when it traded around $0.52.
Since July 22nd XRP has seen a growth of over 100% taking the price to $1.09. Now as the data vendor Santiment tweeted, XRP seems to have gained significant momentum which could cause XRP price to shoot up in a bullish manner.
Other major determinants
Other than the XRP’s technical play, one thing that currently has a major impact on token price action is SEC’s lawsuit. While previously the lawsuit did affect the XRP value badly, in the future if the case continues to tilt toward the defendant it could do much more good than the bad it has inflicted upon the token.
Moreover, the kind of growth XRP’s parent company Ripple is seeing all around the world, especially in the Asian region, the optics are rather bright.
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