Ripple (XRP) outperforms Bitcoin this week, rises 21% in price

Ripple (XRP) is the top 10 crypto asset in the past seven days after it gained more than 21% during the period, according to BeInCrypto data.

According to Lunar Crash data, its positive price performance is confirmed by its soaring social metrics. The data aggregator noted that when market and social performance are combined, XRP emerged as the number one digital asset, outperforming all other cryptocurrencies it tracks.

XRP social mentions rise

As of Lunar Crash, XRP’s social volume reached 5,967, while its social engagements were 14.9 million in the last 24 hours. The weekly performance showed its social engagement increased by 105.9% to 245.57 million and its mentions increased by 26.4% to 80,720.

During the period, XRP had up to 3,440 unique social contributors per hour for the token. Many in the XRP community actively pushed the token on social media as they believed that the parent company Ripple would win the case against the US SEC.

Ripple recently filed a new fair notice defense filing. The filing referenced the decision of Judge Michael Wiles of the US Bankruptcy Court for the Southern District of New York in his ruling on SEC objections in the Voyager bankruptcy case.

SEC Case Affecting Price?

In addition, the crypto project seems to be gaining more crypto stakeholders. In a March 21 tweet, Messari founder Ryan Selkis wrote so he considers the SEC case against XRP an overreaction. He noted that the project fulfills a market need, which is evident in the growing number of accounts on the XRP Ledger.

In the meantime, there is no certainty as to when the case will be decided. A recent Fox Business report said the ruling could be decisive for the crypto industry.

XRP surpasses Bitcoin

Over the past week, XRP gained 21%, outperforming other top digital currencies such as Bitcoin, Cardano, and Dogecoin, which gained 2.18%, 5.09%, and 0.67%, respectively.

In the past 24 hours alone, XRP’s value increased 3.63% to $0.46, pushing its market cap to $23.6 billion, according to BeInCrypto data.

Meanwhile, XRP Scan data showed that XRPL processed over 1 million transactions on average over the past seven days. During the period, the network had an average of over 2,000 new addresses daily.