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Ripple’s XRP is up almost 10% against Bitcoin (BTC) over the past 24 hours, according to CryptoSlate data despite the broad market sell-off.
Spot pair XRP/BTC on Binance rose by 0.00000129 to as high as 0.00001859 over the period. However, at the time of writing, it has receded to 0.00001843.
Source: Trade View
According to Tradingview data, XRP/BTC is up more than 36% over the past week.
Interestingly, the XRP token is also up 5% against Ethereum (ETH) to hit 0.000284, according to data from CryptoSlate.
XRP’s USD value surges to a five-month high
When XRP is valued in US dollars, it represents the top 10 best-performing digital assets over the last 24 hours.
According to CryptoSlate data, the token is up 4.71% to a five-month high of $0.49955 at the time of writing. Looking at price action over the past week, XRP is up 27% and 30% over the past month.
Meanwhile, XRP’s social dominance has also risen to a new high during this period. Blockchain analytics firm Santiment reported that the asset’s social dominance hit its highest level in a year after rallying to $0.49.
Source: Santiment
Data from Luna Crush confirms the above. According to the data aggregator, XRP’s social engagement is up 40% and its social dominance is up 5.8% to 1.51%.
The increased attention has resulted in over 100% growth in trading volume in the last 24 hours According to CryptoSlate data, $3.13 billion is higher than BNB, Cardano (ADA) and Dogecoin (DOGE) combined.
Meanwhile, the US Commodity Futures Trading Commission (CFTC) classification of Bitcoin, Ethereum and Litecoin (LTC) as commodities renewed hopes that Ripple could win its case against the Securities and Exchange Commission (SEC).
The US SEC claims XRP is a security
Posted in: Ripple, Analysis
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