XRP Decouples from Bitcoin in Epic Price Reversal – Optimism Stoked from Binance-SEC Lawsuit Update
In a stunning turn of events, XRP, the sixth largest cryptocurrency, has broken away from Bitcoin, showcasing an impressive price reversal. While Bitcoin experienced a 5% dip in the past 24 hours, XRP surged by nearly 5%, demonstrating its independence from the broader cryptocurrency market trend.
At the time of writing, XRP was up 3.78% in the last 24 hours to $0.6327, outperforming the majority of the crypto market that was trading in the red. The token also saw a 6.21% increase in the last 24 hours.
Despite the overall crypto market downturn, XRP managed to reverse its losses from Monday and trade in the green. The token rose from a low of $0.597 to reach an intraday high of $0.635 before settling at its current price.
Additionally, XRP is gaining strength against Bitcoin, with the pair rising by as much as 5% on the Binance exchange. This marks the third consecutive day of gains for XRP against Bitcoin.
The recent update in the Binance-SEC lawsuit has also contributed to the optimism surrounding XRP. The U.S. Securities and Exchange Commission has decided not to classify the tokens identified in its case against Binance as securities, eliminating the need for an immediate ruling on the matter.
This development could have significant implications for XRP in the ongoing Ripple lawsuit, which is awaiting a final verdict. The positive news from the Binance case has added to the current momentum of XRP.
In conclusion, XRP’s price reversal and decoupling from Bitcoin, coupled with the positive legal developments in the Binance-SEC lawsuit, are contributing to the overall optimism surrounding XRP. Investors should keep a close eye on these developments as they could impact the future performance of XRP and the broader cryptocurrency market.