There is a lot going on right now for Ripple and its XRP token. Whether it’s the recent lawsuit verdicts going in Ripple’s favor or the price of XRP soaring amid bear market conditions.
Ripples CEO Brad Garlinghouse recently stated that the court battle with the US Securities and Exchange Commission is going “exceedingly well.”
XRP price soared more than 5%
XRP token has managed to separate itself from the current market price dump action. Usually, altcoins react to price changes in Bitcoin (BTC). BTC has dropped 2.7% in the last 24 hours and is now trading below $41,000. On the other hand, XRP token has gained over 5% in the last 24 hours. Meanwhile, XPR’s 24-hour trading volume of $2.53 million has increased by 51%. The coin has landed on the list of top gainers as a result of the price increase.
Moreover, the crypto whales have expressed an interest in adding more XRP tokens to their wallets. Whales have added around $45.8 million worth of XRPs, according to WhaleAlerts. Recently, Ripple’s native token surpassed Solana (SOL) to become the sixth-largest cryptocurrency.
XRP lawsuit nearing a closure?
Some days it’s difficult to determine the cause of a Token’s price increase. However, it appears that the recent confident comments made by Ripple’s CEO on the long-running lawsuit against them are supporting the rise in XRP’s price. Mr. Garlinghouse is certain that their lawsuit with the commission is nearing a close.
Garlinghouse said in a conversation with CNBC that the case is going considerably better than he expected. He argues that the justice procedure is quite slow as the case has been ongoing for over 15 months. He asserted that this lawsuit is not just essential for the Ripple, but for the entire crypto sector.
Furthermore, Allbridge has partnered with Ripple to integrate support for XRP Ledger functionality (XRPL). It was also mentioned that XRPL is the 14th chain they’ve added since January.
