XRP rises 10% against Bitcoin as USD rises to five-month high
Ripple’s XRP is up nearly 10% against Bitcoin (BTC) despite the broad market sell-off over the past 24 hours, according to CryptoSlate data.
The XRP/BTC spot pair on Binance increased by 0.00000129 during the reporting period to as high as 0.00001859. However, it has gone back to 0.00001843 at the time of writing.
According to Tradingview data, XRP/BTC has increased by more than 36% in the past week.
Interestingly, the XRP token also rose 5% to 0.000284 against Ethereum (ETH), according to CryptoSlate’s data.
XRP’s USD value rises to five-month high
When XRP’s value is denominated in US dollars, it is the top 10 digital asset in the last 24 hours.
In accordance CryptoSlate’s data, the token rose 4.71% to a five-month high of $0.49955 at the time of writing. A look at the price performance over the past week showed XRP gaining 27% and 30% over the past month.
Meanwhile, XRP’s social dominance has also risen to a new high in the period. Blockchain analytics firm Santiment reported that asset’s social dominance is at its highest point in a year following the rise to $0.49.
Data from Luna Crush confirms the above. According to the data aggregator, XRP’s social engagement has increased by 40% and its social dominance is up 5.8% to 1.51%.
The increased attention has translated into over 100% growth in trading volume in the last 24 hours ts $3.13 billion is higher than BNB, Cardano (ADA) and Dogecoin (DOGE) combined, according to CryptoSlate’s data.
Meanwhile, the US Commodity Futures Trading Commission (CFTC) renewed the classification of Bitcoin, Ethereum and Litecoin (LTC) which holds the hope that Ripple could win the case against the Securities and Exchange Commission (SEC).
The US SEC claims that XRP is a security
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