Ripple’s native token XRP touched a new all-time high of $3.65 on Friday after seven and a half years. The previous ATH was at $3.40, which it reached in January 2018. The price decline was prolonged due to the SEC and Ripple lawsuit, which dragged on for years, affecting its price. Even after these many years, the purview of the legal eagle remains on the Ripple Foundation as the lawsuit continues.
Since 2018, XRP’s price climbed above $3 only once in January this year, ahead of Trump’s inauguration, failing to reclaim its all-time high. It hit $3.24 and dipped to the $2.90 and $1.90 range during the last six months. The leading altcoin picked up steam in the charts in July as Bitcoin hit a new all-time high of $122,838 on Monday. It pulled the broader cryptocurrency market along with it as leading altcoins printed new highs.
Also Read: July End Price Prediction For Ripple (XRP)
What Next For XRP After New All-Time High?
Ripple’s native token XRP is displaying bullish sentiments after hitting a new all-time high on Friday. Its 24-hour trading volume has reached $20 billion, as CoinGecko reveals, indicating major buying and selling activity among traders. It is also among the most-bought tokens during this period as traders are making the most out of the bull run.
The 24-hour trading volume was only $2.8 billion a month ago and has gone nearly 10x in just 30 days. The development indicates heavy demand for XRP, which eventually pushed its price to reach a new all-time high in July. Bulls are now aiming for the token to breach the $4 mark and enter a new price territory.
Also Read: Ripple (XRP) Advances in US Banking & Launches Ripple Payments Europe
Traders who took an entry position in the altcoin before the SEC filed the lawsuit against Ripple are in profit. A rally might continue through the weekend, making Ripple’s XRP climb above its new all-time high of $3.65 next.
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