Is Sologenic Driving XRP Price High Amid Tumbling Crypto Market?
XRP, Ripple’s native token prices are riding high while other major cryptocurrencies are trading under heavy selling pressure. XRP has emerged as the top gainer over the past 7 days beating all the market sentiments.
Is Sologenic a key behind XRP surge?
As XRP charts, Sologenic can be the main reason behind the current spike in the XRP prices. Sologenic is a fast and secure DEX and NFT marketplace built on the XRP ledger. XRP/Sologenic prices have jumped by over 10% in the last 24 hours.
XRP charts also suggest that XRP/STX’s price has spiked by more than 32% in the same time. However, STX is the first multi token soft staking platform on the XRP ledger.
Seems like a recent spike in NFT build on XPRL is driving Ripple’s native token to surge. According to Coinmarketcap, XRP prices have jumped by 11% in the last 24 hours. However, its price has surged by 35% in the last 7 days to beat other top cryptos.
XRP’s 24 hour trading volume has jumped by 11% to stand at $4.18 billion. It is still holding a market cap of more than $22.3 billion amid the recent crypto market dump.
Ripple winning the crucial long ruining case?
Earlier, Coingape reported that Crypto whales are shifting from Ethereum to Ripple’s native token over the past week, ETH which is the second largest crypto is down by 16% over the past 7 days. Meanwhile, Ethereum just went through a historical transition from PoW to PoS.
As per a report, the Ethereum price has registered a huge correction. It has lost more than 20% since then.
However, the XRP price is on an upward trend as both parties in the Ripple lawsuit filed motions for the Summary Judgment. This has eventually led to a boost in investor sentiments.
However, a new Amicus Curie just entered the Ripple lawsuit. The Chamber of Digital Commerce filed for access to file the brief.
- FG Nexus to Tokenize Stock on Ethereum as SEC Weighs 24/7 Onchain Stock Trading
- Bitcoin Still Undervalued, JPMorgan Forecasts Rally to $165,000
- Breaking: CME to Launch 24/7 Crypto Futures Trading Amid Rising Institutional Demand
- Citigroup Predicts Bitcoin Could Climb to $231,000 in 12 Months
- Ethereum and BMNR Rallies as BitMine Drops $1B on ETH, Analyst Hails “Most Bullish Setup Yet”
- Pi Network Price at Risk of Another Crash as Mysterious Whale Stops Buying
- Solana Price Eyes $360 After Bullish Retest As VisionSys AI Deploys $2B Treasury Strategy
- Cardano Price Forecast As Hashdex Listing Fuels Optimism For $1.27 Breakout
- BONK Price Rally Ahead? Open Interest Jumps as TD Buy Signal Flashes
- Shiba Inu Price to Surge as Whales Buy and Team Commits to Shibarium Growth
- XRP Price Prediction After Ripple CTO David Schwartz Resigns
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
