As of right now, the price of XRP is up 5.35% over the previous day, and it seems as though the currency is driving the overall trend of altcoins. XRP, which is now trading at a spot price of $0.4659, has now increased by a total of 10.15% over the previous seven days, solidifying its position as the best-performing asset among all those in the top 10.
Defying odds to aim higher
The community is always interested in XRP’s progress. This is also because of the inherent challenges to its expansion brought about by the current legal dispute between the SEC and its linked blockchain payments company, Ripple Labs Inc.
Recent XRP price movements have shown how the emphasis of investors in the digital currency is now mostly united in order to propel the coin to new heights. The SEC action must be resolved in XRP’s favour in order to accomplish this new emphasis, and one of the first indications of hope will be the short-term breach of the critical resistance level in the $0.5 price range.
Both its short-term and long-term growth projections to exceed $1 can be solidified by a persistent positive purchasing trend, as seen by the more than $1.2 billion in XRP exchanged in the previous day.
Refocusing XRP as security narrative
Since a few years ago, the U.S. SEC’s assertions that the XRP coin is a security have been the focus of intense speculative activity.
Ripple and other significant currency stakeholders are now working to divert attention from this assertion by developing new products and technologies that might highlight the coin’s genuine potential in an effort to avoid this.
The recent designation of Filecoin (FIL) as a security may cause attention to divert from XRP, which might ultimately help the cryptocurrency’s overall recovery.
