The clouds of shadow have seemingly turned away from the XRP token. SEC is now in a difficult position to let go of the current case against XRP or accept its status as an alternative currency. All things considered, the altcoin that was riding a bull wave of 1 USD yesterday had gone down to a position of 0.921 USD after a 6.67% correction. At one end, the low price of the altcoin may prompt many crypto investors to diversify their portfolios with XRP. On the other hand, many are still skeptical about its probable volatility.
In the altcoin rally of the present month, the spotlight of appreciation has been fixated on XRP for quite some time. In the span of the last seven days, the altcoin has offered about a 7% return. The recent spike in the XRP was the biggest contributing factor to push the crypto-market cap to a high position of $2 trillion. The analysis of the six years ROI for XRP shows that there might still be room for further vertical growth.
The DeFi Assets Including XRP Sharing the Weight of the Crypto Market with Bitcoin
At the moment, there are no other digital assets that come anywhere near the leading coin in terms of price appreciation and growth spurt. However, it is worth mentioning that DeFi blockchains are doing their best in carrying their weight and contributing to a value of $50 billion in total towards building up the volume of the digital asset market capitalization.
XRP has managed to remain in the top 10 rankings despite all the curveballs and growing steadily alongside the 25 most notorious and sought-after altcoins in the digital currency market. Many financial experts think that the shortage of XRP from major coin exchanges may contribute to a price hike of the altcoin. However, there is still a chance that XRP price take a dip since other altcoins have started to offer double-digit gains.
Bitcoin has acquired a most solid status of a stable asset class that is being explored by the big players, whales, and institutional investors. Meanwhile, retail investors have started to look towards the altcoin market based on its affordable price ranges. This situation has started an altcoin price rally on major crypto exchange platforms. The trade volume for altcoin has gone as much as 130% in the span of the last 24 hours.
XRP has been moved in massive quantities from the exchanges that are going to add to the narrative of HODLers. However, the presence of XRP on a diverse exchange like Binance keeps adding to its overall appreciation ranking. After the current developments in the XRP case, a new spike in demand has been noticed in the direction of the controversial altcoin. The scale of probability is more likely to tip in the direction of the bull trend.