Ripple (XRP) Price Jumps to New Four-Month High

Whale Alert: 270 Million XRP ($130M) Bought by Whales
  • Ripple (XRP) recorded a new four-month high since May.
  • XRP increased by over 63% in the last 7 days.

Following the most recent U.S. Federal open market committee meeting, Ripple (XRP) overcame a significant barrier and reached a new four-month high as crypto market volatility slowed. At the time of writing, XRP is bullish by more than 32% in the last 24 hours, which is the highest level since May.

The price of XRP has now recorded new all-time high since May 8, when it ranged about $0.5665. According to CoinMarketCap, XRP traded at 0.5374 with a trading volume of $6,118,765,859, and XRP holds a market cap of 26 billion. 

Ripple (XRP) price chart (Source: Tradiview)

XRP Breakouts the Price Level

On September 13, Ripple Labs, Brad Garlinghouse, and Chris Larsen filed a motion for summary judgment. Following that, defense attorney James K. Filan stated on his Twitter account that the court granted the Motion request. This legal procedure involves the court making a final decision based on the presented facts rather than ordering a trial. 

The announcement may be increasing the view of XRP’s long-term prospects among individuals. As a result of this, the price of XRP shows a gain of around 63% in the previous 7 days, and XRP has increased by 56% over the last 14 days. Also, the XRP prices are up more than 56% in the past month. 

The surge comes as the 14-day relative strength index (RSI) also reached a multi-month high. The index is currently tracking at 77.92, which is the highest level in more than nine months.

Moreover, Ripple taking additional initiatives for the future in order to prevent an impending climate crisis. That, the Ripple blockchain firm  has signed the Climate Pledge, a commitment to achieve zero carbon emissions by 2040.

Recommended for you 

A journalism graduate who is passionate about writing loves to dance and travel currently starts exploring blockchain technology.