XRP Price Volatility and Market Cap
The price of XRP has been fluctuating in recent days, despite trading sideways since August 5. After reaching its bottom following a surge in mid-July, the coin has fluctuated between $0.61 and $0.66 in the past week. In the last 24 hours, it went from $0.625 to $0.640 and then back to $0.628. Currently, the price is rising again at $0.631. XRP’s market cap sits at $33.3 billion, ranking it 5th among the largest cryptocurrencies by market cap. However, its volume has decreased by 40% in the last 24 hours to $1 billion.
XRP’s Spike on Gemini
XRP recently experienced a price spike on Gemini, reaching $0.64. This spike, however, pales in comparison to what happened on the platform due to a glitch. The coin’s price skyrocketed to $50, causing its market cap to briefly reach trillions before returning to normal. While this made XRP the most prominent cryptocurrency on Gemini, it was solely due to a system glitch.
SEC Appeals Against Ripple
The SEC has filed an appeal against Ripple following the SEC vs. Ripple lawsuit. Many expected this appeal to happen much later, but it has already taken place. The crypto community is now waiting for Judge Torres to grant or deny the appeal. Opinions on the outcome are divided, with some believing it will be difficult for the SEC to appeal successfully using the Howey test to determine XRP’s security status, while others think the appeal could strengthen the judge’s decision.
Rise of Shibie, the Newest Meme Coin
While XRP’s legal issues continue, attention is shifting to the newest meme coin on the market, Shibie. Combining aspects of Doge and Barbie, Shibie has gained popularity since the release of the Barbie movie. The token’s presale has already raised over $315k, with a soft cap of $500,000. Each token is being sold for $0.000167 and can be purchased with ETH, BNB, or USDT.
Hot Take: XRP’s Price Fluctuations and Legal Battles
XRP’s price has been volatile in recent days, but it remains to be seen how its legal battles will affect its future. The SEC’s appeal against Ripple adds further uncertainty to the situation. While the outcome is uncertain, the crypto community continues to closely monitor developments. Meanwhile, the rise of Shibie, the newest meme coin, shows that the crypto world is always looking for the next big thing.
Insa’s extensive background in the financial realm encompasses roles as a writer, trader, and personal finance coach. Her proficiency spans a wide spectrum, ranging from commodities and indices to forex and cryptocurrencies.Insa’s specialization lies in furnishing strategic investment advice tailored to the fintech investment niche.