Crypto markets have seen a notable rebound this weekend, particularly $XRP, the asset linked to Ripple. Key data indicates price growth amid news of de-escalation in the Middle East and Ripple's decision to withdraw its appeal in the SEC lawsuit.
Price Surge of $XRP over the Weekend
According to market data, the price of $XRP currently stands at around $2.18, showing a 0.19% increase over the past 24 hours. Over the past week, the asset has experienced a 5.13% price increase.
Middle East De-Escalation and Ripple's Announcement
Ripple Labs announced the withdrawal of its appeal in the lawsuit with the U.S. SEC, marking a pivotal moment in the three-year-long case. It is also expected that the SEC will withdraw its appeal. Additionally, the de-escalation in the Middle East conflict has positively impacted the entire crypto market.
Current Market Indicators for $XRP
The market capitalization of $XRP is currently at $128.87 billion, reflecting a 0.22% increase. However, its 24-hour trading volume has decreased significantly by 48.38% to $1.62 billion. Moreover, over the last 30 days, the price of $XRP has decreased by 1.75%. Currently, $XRP faces strong resistance at $2.20 and solid support at $1.93.
The cryptocurrency market is showing positive trends following recent events that have contributed to the rise of $XRP, indicating potentially more stable times for assets in this space.
