XRP is back in the spotlight, showing significant recovery after recent downturns. Daily trading volume exceeded $3 billion, linked to market changes and developments in the SEC lawsuits.
XRP Recovers and Shows Growth
After dipping to $1.94 on Friday, XRP rebounded sharply, reclaiming critical price support. By Saturday, the token had climbed to $2.15, a 5.52% gain over the previous 24 hours.
Changes in Investor Behavior
On-chain analytics firm Glassnode revealed that the last significant price spike in February was driven by new capital. XRP's market capitalization rose from $30.1 billion to $64.2 billion. However, recent inflows have slowed, with older holdings now accounting for 63% of the total.
Legal News and Its Impact
Recent developments in the courtroom clash between Ripple and the SEC could serve as a potential catalyst for the market. The parties filed a joint motion requesting a pause on their respective appeals, hinting at a possible resolution. This could bolster institutional involvement and increase investor confidence.
XRP is showing dynamic recovery and may be approaching a unique moment in the market. The resolution of the SEC lawsuit could pave the way for growth and investment opportunities.
