According to crypto analytics platform Santiment, XRP, the cryptocurrency linked to blockchain company Ripple, has had a significant 22% value increase over the past 19 days and is currently the most popular asset in the crypto market.
The sixth-ranked crypto asset is seeing increases in historically high tackle activity, indicating that the price of the cryptocurrency may be preparing for a unique behavior in the near future.
According to U.Right This, the principal cryptocurrency broker DonAlt has fueled speculation that XRP may soon reach the $1 level, a value level not seen since November 2021.
Unprecedented spikes in tackle activity observed over a two-day stretch have given the cryptocurrency some optimism. This occurs as XRP tries to distance itself from the larger crypto industry.
The ongoing, highly publicized dispute between Ripple and the SEC regarding the designation of XRP as a security has cast a shadow over the progress of XRP. The long-term future of the XRP coin has come into question as a result of this continuing authorized tug of war. Despite this, Ripple’s Brad Garlinghouse recently made hints about a possible thaw in the frosty stalemate in the coming weeks.
An attorney who supports XRP, John Deaton, has reinforced the idea that a successful outcome in the SEC litigation might have a big impact on XRP’s value.
Despite the current optimism, it is important to keep in mind that XRP is still down by more than 80% from its record high, which was reached back in January 2018.