Why XRP Price is up 7.5% to $0.3498 - Is it Time to Buy?
During the European session, the XRP price is up 7.5%, bringing nostalgic price action back to the market. More than 4.3 million unique addresses now hold XRP, Ripple's native token. Despite facing its own set of difficulties and the persistent Crypto Winter that has driven several assets to multi-month lows, the XRP coin has reached this milestone.
Although XRP has not been immune to the attacks, the asset's recent success is illustrative of its development despite the turbulence. So let's take a look at a few fundamentals that are driving optimization for Ripple.
The current XRP price is $0.3487, and the 24-hour trading volume is $1.2 billion. On Saturday, the XRP/USD pair opened the day at $0.3439, placing a high of $0.3576 and a low of $0.3438 level. In the previous 24 hours, XRP has increased by 6.99%.
CoinMarketCap now ranks #7, with a live market cap of $17 billion. There are 49,826,021,773 XRP coins in circulation, with a maximum supply of 100,000,000,000 XRP coins.
In December 2022, the Securities and Exchange Commission (SEC) filed a lawsuit against Ripple, the developer of the XRP cryptocurrency token, for marketing what the SEC views as unregistered securities.
Defense attorney James K. Filan claims that a New York court has authorized the combined plans of the US Securities and Exchange Commission (SEC) and Ripple Labs, which include timelines for reworking on regulating filling concerns in impending summary judgments.
This step is considered essential to end the protracted legal battle finally.
Chris Larsen, a co-founder of Ripple, and Brad Garlinghouse, the company's CEO, were named defendants. The corporation refutes claims that XRP is security as the sale of stocks and bonds is subject to stringent oversight
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