XRP Leads Altcoin Return As Community Cites Ripple’s Deserved Breakthrough Win In SEC Case
Santiment, an on-chain market intelligence tool, has turned to Twitter to announce that the Ripple network has achieved a significant renaissance this quarter. Over the past two weeks, XRP has created and maintained positive momentum.
As a result, altcoin prices increased by more than 44% in two weeks. According to Santiment statistics, the asset’s daily gain was up by more than 11% at the time of their analysis.
XRP’s bullish position has been profitable for XRP traders. Data shows that XRP traders are making a lot of money nowadays. Santiment would later say that the current levels of taking profits are at an all-time high compared to losses. This is the first time XRP profit level has reached this level since August 2021.
“XRPNetwork prices have increased by 44% in the past two weeks and another 1% today, continuing March’s impressive recovery.” As a result, we witnessed very high levels of profit-taking from traders, with the highest profit-to-loss ratio since August 2021.” In a tweet, Santiment stated.
Data from CoinMarketCap reveals that XRP is now the largest daily, weekly and hourly winner among the ten most valuable assets by market cap at the time of writing. The altcoin, which is currently ranked sixth, has dethroned all of its competitors, including the top cryptocurrency bitcoin, to completely exit the red zone.
At the time of writing, XRP had gained 1.67% in the previous hour. In the previous 72 hours, the asset has increased by 12.76%. XRP is currently trading at $0.54 at the time of writing.
XRP and the Ripple community are now experiencing a very upbeat sentiment. According to a recent article, one of the key market individuals has issued an optimistic forecast for XRP. While the community awaits the court’s verdict in the ongoing Ripple versus SEC dispute, Attorney John Deaton claims that XRP offers the best risk/reward ratio.
As many other market players are saying, Ripple’s win might trigger a much-needed rise in XRP. Deaton agrees with this thinking and hopes that XRP will rise if it is not classified as a security.