Bitcoin

when

<figure>
 <figcaption>
  Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
<p dir="ltr">The fast-growing market rebound is good news for XRP and its investors. Joining the broader market, XRP is&nbsp;<a href="https://coinmarketcap.com/currencies/xrp/" rel="noopener noreferrer nofollow">changing hands for $0.4354</a>, up by 4.71% in the past 24 hours. This growth reboot has helped it shrink its losses over the past week to just 8.44%.</p>
<h2 id="xrp-reemergence">XRP reemergence</h2>
<p dir="ltr">After plunging as low as $0.39 in the past seven days amid epic&nbsp;<a href="https://u.today/xrp-eyes-mad-anomaly-with-7900-surge-in-bull-liquidations" rel="noopener noreferrer nofollow">bull liquidation</a>, XRP has flipped this price point as its crucial support level. The historical performance of XRP makes it an interesting asset to watch. Thus far this year, XRP has bounced on and off the $0.4 trendline with no record of sustained breakout to date.</p>
<p dir="ltr">XRP’s struggles as a dominant asset on XRP Ledger are multifaceted. Besides battling tough competition from its dominant alternatives like Bitcoin (BTC) and Ethereum, the Ripple v. SEC lawsuit also marked a turning point for the coin.</p>
<p dir="ltr">Since December 2020, when the lawsuit was launched to date, XRP’s growth has been caught up in limbo. Despite entering a rebound mode as the current selling pressure wears off, experts project that should the remedies not be settled and the&nbsp;<a href="https://u.today/when-ripple-v-sec-end-date-xrp-advocate-shares-epic-prediction" rel="noopener noreferrer nofollow">case closed</a>, XRP’s breakthrough might be impossible to pull off in the near term.</p>
<h2 id="relying-on-xrp-ledger-evolution">Relying on XRP Ledger evolution</h2>
<p dir="ltr">Despite the unavoidable roadblock placed by the SEC lawsuit, XRP is drawing new potential from other use cases it directly takes care of. One of these is XRP Ledger, which is looking to diversify&nbsp;<a href="https://u.today/xrp-just-reached-major-defi-milestone-details" rel="noopener noreferrer nofollow">automated market maker</a> (AMM) pools for extended service to the community.</p>
<p dir="ltr">The Ripple payments plan is also another use case that XRP has been featuring in for some time now. The coin is recognized as one of the most versatile for cross-border payments in the industry. While proponents agree on the impact these extra use cases can have on the price of XRP, there is no consensus on the timeline the coin will properly match what many think it is worth.</p>

XRP Forms Crucial Support as Insane Selling Pressure Wears Off

Table of Contents

U_Today

Other articles published on Jul 6, 2024

Crypto Phishing Attacks Soar: $314 Million Lost to EVM Hacks in 2024

Bitcoin Reclaims $56k But Still Faces Potential Drop to $47K, Analyst Reveals Why

Shiba Inu Whales Reappear to Boost SHIB Price With 176% Activity Surge

Cardano's Trading Activity Signals Potential Uptrend Amid Market Indecision

The Moon Memes, a New Meme Coin, Raises $120000 in Presale – The Next 150x Meme Coin!

BlockDAG Leads With $56.4M Presale, Outpacing Jupiter’s Turmoil And Fueling Solana’s Surge

Join our free newsletter for daily crypto updates!