๐ XRP Price Update :
$XRP is currently trading at $2.41, reflecting a 2.45% increase over the past 24 hours. The cryptocurrency has seen a significant rise of over 9% in the last week, with a market capitalization of approximately $140.9 billion, positioning it as the 4th largest cryptocurrency by market cap.
๐ฐ Top XRP News Headlines :
1. Ripple and SEC Reach $50 Million Settlement
After more than four years of legal battles, Ripple and the U.S. Securities and Exchange Commission (SEC) have reached a settlement. The agreement includes a $50 million payment from Ripple to the SEC, pending judicial approval. This development has bolstered investor confidence, contributing to $XRP 's recent price surge.
2. Analysts Predict XRP Rally to $6
Technical analysts suggest that XRP may be poised for a rally towards $6, based on the Elliott Wave Theory. The partially completed Wave 5 indicates potential for further upward movement, especially with the renewed bullish sentiment in the market.
3. Whale Transfers $782 Million in XRP:
A significant transaction involving 370 million XRP, valued at approximately $782 million, was executed by a Ripple-affiliated whale. This large-scale movement coincided with the Federal Reserve's decision to maintain current interest rates, influencing market dynamics.
4. XRP Ledger Surpasses 1 Million Transactions :
The XRP Ledger (XRPL) has achieved a milestone by surpassing 1 million transactions in a single day. This surge in activity highlights the growing adoption and utility of the $XRP network.
๐ Market Sentiment:
The recent settlement between Ripple and the SEC has alleviated regulatory uncertainties, contributing to positive market sentiment. Additionally, the increased transaction volume and significant whale activities indicate heightened interest and confidence in XRP's potential.