Ripple’s XRP has emerged as one of this week’s best crypto assets in price performance. The altcoin, which has peaked traders’ interest in the last few days, surpassed its counterparts to secure gains as high as 15%.
The move is commendable for XRP bulls, mainly because the feat was achieved when most of the leading altcoins by market valuation recorded upsets in price value.
Santiment, a cryptocurrency market intelligence platform, details the bullish pattern in a recent tweet, explaining the upsurge in XRP’s price can be credited to the spike in network address within the past week.
Santiment adds that XRP has also seen a spike in social dominance, which has triggered interest in the asset and resulted in a price upswing.
It is worth noting that XRP bulls have managed to roll over gains into Friday. At report time, XRP’s 24-hours gains are still up 2.89%. Additionally, the asset’s 7-days performance above 12% hints that XRP bulls are building upward momentum. With prices currently at $0.37, the next few days remain crucial for the altcoin.
There are many more reasons to remain bullish on Ripple and XRP
Meanwhile, XRP has also benefited from a recent move from whales. As reported by WhaleAlert, whales have been moving large amounts of XRP tokens.
This week, a colossal number of whale acquisitions were spotted, causing XRP’s price to spike.
The price of XRP quickly reacted to the moves, with a 10% upswing in price, as of when the purchases were carried out.
Ripple supporters are also looking for the final verdict from the ongoing SEC vs Ripple case. Dan Gambardello, a popular crypto pundit, has predicted that the case will get a ruling soon. He expects the ruling to result in a change in the current state of the entire cryptocurrency market.
Per his recent tweet:
“I think we’ll see a ruling on the Ripple case by March. Considering the timing of the market cycles, this could be a huge pivot point for a crypto shift from bear to bull on the macro.”