Ripples’ XRP Price Analysis After Its Recent All-Time High of $0.74

• XRP price at press time is trading at $0.3862 USD up 3.04% from last 24h.
• However, the 24h trading volume is down by almost 8.33%
• Its recent all-time high is $0.7448 USD and the market dominance is 1.56%

Ripple’s XRP recently hits all-time high of $0.7448 USD after a massive pump from $0.28 USD. It gains momentum after the Wall Street Bets’ crypto wing says ‘pump it’. The price skyrocket more than 80% within hours.

After the sharp decline in the price of XRP due to the SEC lawsuit, this is the first time when XRP showed such a big rally. It was trading around $0.28 USD before this recent surge in price.

XRP currently at the 5th spot in terms of market capitalization as per CoinMarketCap. During the recent all-time high, it was at the 3rd spot which used to be XRP position before the massive drop in price.

Currently, Tether (USDT) is at the 3rd spot and Polkadot (DOT) at the 4th spot with a market cap of $27,449,524,914 and $18,180,407,194 respectively. The market cap of XRP at press time is $17,689,792,644 USD.

If we look at the 7 days low and high then it’s $0.2605 USD and $0.7448 USD respectively. The market cap of XRP has increased 3.06% from the last 24h while the 24h traded volume is down by 8.33%.

Recently Ripple also made a filing to rebut the allegations made. It says, “In 2015 and again in 2020, the US Department of Justice (DOJ) and US Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) determined that XRP is lawfully used and traded in the marketplace as a virtual currency.”

“Those determinations are consistent with the economic reality that XRP functions as a store of value, a medium of exchange, and a unit of account – not a share in Ripple’s profit.”