Ripple’s XRP price has been on a strong bullish trend over the last couple of days. At press time, XRP price had gained over 20% in the past 24 hours and 23.51% over the past seven days.
The token has gained more than $0.10 over the last 24 hours and it seems to be just starting on the current Bull Run. Most technical indicators are pointing to a strong buy case for XRP.
Why is Ripple price rising?
Although the price of Ripple (XRP) is rising in tandem with a majority of the major cryptocurrencies including Bitcoin (BTC) and Ethereum (ETH) which have risen by over 13% and 5% respectively, Ripple’s bull case seems to be stronger than the rest.
Ripple (XRP) is today’s top gainer followed by Cardano (ADA), Algorand (ALGO), Stellar (XLM), Chainlink (LINK), ssv.network (SSV), and SingularityNET (AGIX) in that order. Ripple seems to be the only major cryptocurrency to rise by over 20% today.
The current XRP price Bull Run is being caused by several factors with the surge in the adoption of the XRP Ledger (XRPL) decentralized blockchain being one of the main factors. Reports show that XRPL adoption has grown considerably since February.
The other factor prompting the current Ripple price surge is the hope that Ripple will prevail in the ongoing legal battle with the US Securities and Exchange Commission (SEC). The case has dragged on for more than three years now and the crypto community is expecting the case could be concluded in April.
The US courts have ruled in the favor of several other cryptocurrencies in the recent past; something that has given the Ripple community a lot of hope. The most recent was the case against the LBRY Credits (LBC) token which the courts declared it is not security at the beginning of February.