XRP has climbed $ 2.19 in the past 24 hours after a trio of catalysts has converged to help cryptocurrency outdo the wider cryptocurrency market.
One of the catalysts was the launch of XRP Micro Futures on Robinhood. Contracts provide merchants with more flexibility to bet on the future direction of cryptocurrency prices or cover current positions given their smaller size.
Regulatory fog has also cleared up. Friday, Ripple withdrawn his trick in its long period of American securities and exchange securities (SECOND) trial. The SEC continued Ripple in 2020 on its XRP sales, alleging that these securities laws violated. The dry should abandon its own appeal, leaving last year’s decision, ordering Ripple to pay a civil penalty of 125 million dollars to the dry, intact. This decision could raise a lid that had maintained certain investors on the sidelines.
The data on the chain completed the bullish configuration. The large XRP book connected to 1.1 million active addresses during last week according to Crypto analyst Ali Martinez, who cited Glassnode data.
The ramp -up of XRP saw it outperform the wider cryptography market, the wider index of Coindesk 20 (CD20) increasing by 1.7% in the last 24 hours.
