XRP Price Jumps 10 percent: The price of XRP suddenly jumped 10% to outperform the top 10 cryptocurrencies by market capitalization. XRP is outperforming Bitcoin and Ethereum in daily gains, as these are up 0.62% and 2.87%, respectively.
XRP Price Jumps 10 percent
At the time of writing, XRP was up 11% in the last 24 hours at $0.424. In the last few hours, XRP has gained over 8%. The sharp recovery coincides with XRP bottoming out on its BTC chart. After weeks of underperformance, XRP suddenly gained strength in its Bitcoin pairing after reaching lows of $0.0000134 on March 20. XRP is currently up 13% against Bitcoin.
Predictions in Ripple lawsuit
Fox Business correspondent Eleanor Terrett predicts three outcomes for summary judgment in the Ripple-SEC case. “For those not in the XRP community: If Judge Torres comes back with a decision on summary judgment in the Ripple case this week, one of three things could happen: She could side with Ripple, she could side with the SEC, or she could decide the case should go to trial,” Terrett tweeted.
CryptoLaw founder John Deaton predicts that Judge Torres will rule in favor of Ripple executives Brad Garlinghouse and Chris Larsen. He believes that Judge Torres will rule that no reasonable jury could conclude that the two executives were reckless in not knowing XRP was security when the SEC itself did not.
In the latest developments in the lawsuit, Ripple defendants have offered the ruling of Judge Michael Wiles in the Voyager bankruptcy case, which rejected the SEC’s objections in further support of its fair notice defense.
XRP Potentially Builds up Foundation Above Important Price Level
The fact that XRP has finally managed to break through the local resistance level is a positive indicator of its short-term price performance. This could lead to further price appreciation if overall market sentiment supports bullish momentum. Several factors could potentially contribute to XRP’s upward movement.
SHIB whales not helping
Shiba Inu (SHIB) has lately been underperforming in terms of price, despite the overall growth of its ecosystem. Interestingly, a significant 68% of the total SHIB supply is controlled by whales, raising questions about their possible impact on the token’s disappointing performance.
Solana finally back
Solana has been making a big comeback on the market, with the price of its native cryptocurrency, SOL, reaching $23 — a level not seen in nearly a month. This impressive resurgence occurs despite the total value locked (TVL) within a network showing signs of stagnation.