XRP has finally joined the bull run along with other altcoins recording a 3-year high above $1 for the first time after 2018. The altcoin has continued its surge this week recording a 20% surge over the past 24 hours and also surpassed the all-time-high volume of 2017.
Volume for #XRP just passed the volume during the 2017/18 bullrun. If true that volume precedes price: moonshot incoming! pic.twitter.com/FyqqvyNIdh
— CryptoBull2020 (@CryptoBull2020) April 10, 2021
The surge in volume is also significant given most of the crypto exchanges had delisted XRP from their platform early this year, owing to the SEC lawsuit against Ripple Labs. The recent price surge is also being attributed to the latest development in the case where Ripple over the past three hearings has offered a compelling defense.
Some of the key developments in the case include SEC’s admission that only Ripple Labs and it’s an employee are liable to security law violation for offering XRP, thus clearing that crypto exchanges won’t be violating any laws by offering XRP. This development has also led to a strong Relist XRP campaign on social media.
Would XRP Follow Other Altcoins to Record a new ATH
XRP at the start of the year dipped to a new 3-year low post-SEC lawsuit, however, the altcoin started recovering as soon as the court hearings highlighted several flaws in the SEC charges. With a lot of enthusiasm around its relisting, XRP could finally match other altcoins to surpass its 2017 high of $3.84.
XRP price is only 3X short of its 2017 high from its current prices and with the market volume going higher than 2017, a price burst is expected to follow. XRP also lost its long-held third position by market cap at the start of the year and went as low as the 9th spot. The altcoin has made it back to the top 5, currently behind Binance Coin (BNB).
