Ripple XRPs Price Skyrockets in Recent Times

Ripple XRP’s price surged higher in the last week of March. Earlier this year, in January, XRP’s price had increased by 50%, powered by WallStreetBets traders. It again gained massive bullish momentum in March after gaining 15% in a few hours in the mid of March. At the time of writing this article, XRP is at $0.701. XRP jumped from 17.77% in the third week of March to 5.89% by March 28. Thus, XRP’s price halted at $0.547, and before taking a dip for a short while at $0.453, it started rising above 0.6000 on the following Monday.

Last Thursday, it soared higher by 6.89%, followed by rallying up to 9.98% on Friday. According to price analysts, Ripple’s first major resistance appeared at $0.5721, followed by another resistance at $0.6140. Analysts predict that if the current trend continues, it may soon cross the $1.4 mark. According to financial experts, once Ripple XRP’s price breaks the ascending triangle, it would be easier for XRP to rise beyond $1. Many cryptocurrency experts believe that XRP’s good times have come now because Ripple is already famous worldwide for its payment gateway. Therefore, in future times, XRP’s value may even reach $100.

Apart from this, the San Francisco-based payments company Ripple recently won a bid against US Securities & Exchange Commission (SEC) to retain its private email correspondences with its clients confidential. This was after the SEC filed a lawsuit against Ripple in December when Ripple sold XRP in unregistered securities offerings. Although this is per Ripple’s policies because it can sell 55 million XRP held in its treasury if the coin crashes in the market anytime.

So, on March 31, Ripple was granted redactions in the case of two email exchanges. The first redaction granted was in the case of an email between Ripple’s CEO Brad Garlinghouse and an anonymous person regarding Rippleworks. Rippleworks is the company’s non-profit venture capitalist wing. The second redaction granted was about an email between unnamed clients who had discussed something about XRP’s public image and Ripple’s influence on it.

Ripple and SEC were given time till April 2 to agree upon the redactions; however, Ripple is yet to decide regarding the other two documents. The SEC accepted the partial redactions but still demands action in the case of the other two documents.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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