thecryptobasic.com
Leading crypto exchange Bitrue spotlights XRP’s remarkable performance over the past week, inviting speculations about whether the coin could sustain its upward trend.
In a recent X post, Bitrue called the public’s attention to XRP’s dominance within the crypto market over the past week, offering intriguing updates about the fourth-biggest altcoin.
🔔 If you haven’t already heard about what's been going on in #crypto this week, $XRP has been dominating all week. Here’s a quick weekend round-up of #XRP this week! Here are some highlights:
🔸 $XRP traded above $0.60 this week
🔸 $XRP expects their legal issues with the SEC…— Bitrue (@BitrueOfficial) July 21, 2024
3 Exciting XRP Updates
According to the exchange, the price of XRP traded above 60 cents in the past week. Recall that XRP rallied over 40% in the past week, hitting a multi-month high of nearly $0.64. The rally, which commenced on the eve of the first anniversary of Judge Torres’ summary judgment decision, was later bolstered by speculations about an imminent settlement between the SEC and Ripple.
Bitrue disclosed that the broader XRP community expected an imminent resolution of the legal tussle between the SEC and Ripple. Specifically, the community predicted that the parties could settle soon, thus potentially ending the multi-year legal tussle.
For context, the settlement rumors emerged after the SEC scheduled a Sunshine Act meeting for last week to deliberate on critical matters, including the settlement of administrative proceedings and injunctive actions.
Although the SEC postponed the closed-door meeting from July 18 to July 25, several community members have remained optimistic that a resolution is near.
Lastly, Bitrue’s update highlights that XRP has sustained its price for most of the week. Notably, despite the broader market facing significant declines, XRP has remained solid around the $0.6 level. At the time of writing, XRP is trading at $0.6023, up 1.48% in the daily charts and 9.52% over the past seven days. While XRP is up in the daily charts, other top 20 crypto assets are in red in the 24-hour timeframe.
Given XRP’s recent performance and update over the past week, Bitrue invited speculations on whether the coin can maintain its upward trend.
“Do you think XRP has what it takes to keep pumping?”
Bitrue’s Unending Support for XRP
Meanwhile, Bitrue has been bullish on XRP for most part of the year. Besides supporting over 90 XRP spot trading pairs, Bitrue has introduced mouthwatering incentives relating to the coin. In particular, Bitrue launched a $1 million trading contest for XRP earlier this year.
Last month, Bitrue reiterated its support for XRP by pledging to stand by the coin in bear and bull seasons. Furthermore, the exchange is confident of an imminent rally for XRP, as reflected in its consistent use of rocket emojis for most XRP-related tweets.