On April 6, the price of XRP surged above $1 for the first time in 3 years. This price rise has made XRP’s market valuation at about $47 billion.
With that, XRP also beats the market cap of Tether, ADA and Litecoin and only behind binance coin which is trading at $393, on APRIL 6th.
Ripple is a real-time gross settlement system, currency exchange and remittance network created by Ripple Labs Inc., a US-based technology company.
Even though XRP is up a whopping 48% in the last hours, there doesn’t appear to be any major news connected to XRP that would explain the sudden price spike, we are assuming it is mostly due to technical factors
Brad Garlinghouse, Chief Executive Officer at Ripple and one of the defendants in the SEC vs Ripple lawsuit, told CNN the firm could continue without XRP if need be.
Ripple CEO Garlinghouse said the firm is ready to march on without the XRP-based settlement platform if it loses the legal battle against the US regulator which claims XRP is a security and the firm illegally sold the cryptocurrency to investors.
If you are still looking to purchase XRP, you can buy them at binance
Here are how twitteratis reacting to the price action
$XRP 3000% Profit 😍🔥🚀
— Austin (@cryptoexp94930E) April 6, 2021
— Crypto_Seeker (@Kyisi7) April 6, 2021
— StillDaMFingColdest (@SuburbanPimp) April 6, 2021
— Thinking Crypto – YouTube Channel & Podcast (@ThinkingCrypto1) April 6, 2021
I’ve never had an issue with $XRP, I’ve simply been fascinated by the tribalism.
Regardless, if your bags are pumping, I’m happy for you! 🔥
— Layah Heilpern 🎬 (@LayahHeilpern) April 6, 2021
XRP up 500% On The Year…With an SEC Lawsuit and nobody ever mentioning(even those that secretly own it). Bitcoin Up 750% with a constant traditional media parade and a constant flow of Bitcoin Maxi guests that won't talk about anything but Bitcoin. It was always XRP .
— Digital Asset Investor 👀🔥 (@digitalassetbuy) April 6, 2021