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One of the altcoin or an alternative digital currency to Bitcoin, performing in green from the recent seven days. Among the top-10 most traded cryptocurrency, according to CoinMarketCap, it is on no. 6th, the only cryptocurrency which is almost 5.46% up in the past 7-days. No doubt, that altcoin is XRP, which recently showed quite good growth as compared to rest of the top-10 cryptocurrencies.
However, the total crypto market volume over the last 24 hours is $29.99B, which makes a 34.80% increase. While the global crypto market cap is $799.58B, with a 1.74% decrease over the last day, as per the data sourced from CoinMarketCap.
XRP is Leading The Altcoin Growth
In the past 7 days, XRP surged from the trading price of $0.34 to $0.37 with 8.82% of increase. The current XRP price is $0.359220 USD with a 24-hour trading volume of $995.65 Million USD. However, XRP is down 2.56% in the last 24, with a current market cap of $18.08 Billion USD.
The ongoing battle between Ripple vs SEC (Securities and Exchange Commission) may somewhat fluctuate its price performance as XRP is affiliated with blockchain payments firm Ripple Labs Inc. The U.S. SEC stated that Ripple sold the XRP coin as an unregistered ‘security’ in the $1.3 Billion lawsuit filed in December 2020, the firm is arguing that its use of the cryptocurrency is as ‘a payment token’.
On the other hand, the holders and investors of XRP are relaxing by this ongoing Ripple vs SEC battle. Just because many of the crypto experts believe Ripple is following the right path to get a desired result as the key timelines in this case show the end is in sight.
Additionally, the community’s commitment was tested over the recent few days by the spat between David Schwartz, Ripple CTO and Craig Wright, a self-proclaimed Bitcoin inventor. Mr. Wright stated that “Ripple CTO has a very limited area of expertise.” He further called out “XRP as the most ‘useless pump and dump scheme’ in this entire industry.”
Over which the Ripple CTO replied that “at least I don’t abuse the legal system to silence my critics and steal. Mr. Schwartz further added “You are fortunate that I’m not the kind of despicable coward who would sue someone for sharing their opinion of me.”
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
