XRP breaks above $1, retaking 4th place among top cryptos 🚨 This article is 4 years old...
XRP breaks above $1, retaking 4th place among top cryptos
The price of Ripple's XRP token has surged by over 80% over the past week, reinvigorating bullish sentiments across the board.
2 min read
Updated: Apr. 6, 2021 at 2:49 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Despite the ongoing legal battle with the U.S. Securities and Exchange Commission (SEC), the price of Ripple’s XRP token has nearly doubled in the last 24 hours, reaching over $1.
At press time, XRP is trading at around $1.05, up 48.8% on the day.
The token’s weekly gains are even more impressive, clocking at +85.3% over the past seven days. At the same time, the latest surge has pushed XRP’s market capitalization—the total worth of all circulating tokens at current prices—to more than $47.7 billion, making it the fourth-largest cryptocurrency yet again.
Notably, this is the first time XRP has broken above $1 since March 2018, and the overall bullishness suggests its all-time high of nearly $4 is could yet again on the horizon, Konstantin Anissimov, executive director of crypto exchange CEX.IO, told CryptoSlate.
He noted:
“At current valuations, the cryptocurrency is on track not just to reclaim top stop amidst the major cryptocurrencies, but is also pushing to break its all-time high (ATH) record of $3.84 set more than three years ago.”
The tide is turning
Anissimov also pointed out that the positivity around XRP was further reinforced by Ripple pushing for “new frontiers through partnerships to drive its cross-border payments business out of the United States of America.”
As CryptoSlate reported, the SEC has filed a $1.3 billion lawsuit against Ripple Labs and its executives last December, alleging that token sales conducted since 2013 could’ve been illegal. This resulted in the token’s price plummeting as numerous crypto exchanges, including Coinbase, Crypto.com, eToro, and others, suspended the trading of XRP or outright delisted it.
Recently, however, one of the SEC’s lawyers reportedly implied that crypto exchanges and regular users can safely trade XRP without violating any of the regulator’s guidelines.
Last week, a group of XRP holders was also granted its request for a motion to intervene in the SEC v. Ripple case, which further reinforced bullish sentiments around the token.
XRP Market Data
At the time of press 2:49 pm UTC on Apr. 6, 2021, XRP is ranked #4 by market cap and the price is up 36.12% over the past 24 hours. XRP has a market capitalization of $44.3 billion with a 24-hour trading volume of $36.03 billion. Learn more about XRP ›
Crypto Market Summary
At the time of press 2:49 pm UTC on Apr. 6, 2021, the total crypto market is valued at at $1.98 trillion with a 24-hour volume of $209.58 billion. Bitcoin dominance is currently at 55.19%. Learn more about the crypto market ›
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Author 
Liam Frost
Liam Frost is a freelance journalist and editor with over 15 years of experience working for various media outlets across the world.
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The XRP Ledger is a decentralized cryptographic ledger powered by a network of peer-to-peer servers.
Ripple
Ripple is a US-based technology company which develops the Ripple payment protocol and exchange network using XRP, the digital asset native to the XRP Ledger.