Ripple recently hit a new record for XRP Millionaire, as the company continues its weekly 10% surge. Crypto analytics firm Indeed Santiment Addresses with one million XRP reached an all-time record. More than 2,013 address have increased over the last 6 weeks with a 1.3% increase.
This has been accompanied by positive performance for the asset in the past few days. It is down over 3% at the moment and is trading at $0.53 but it has been on a positive streak for seven days, according to CoinMarketCap. Ses continual increases began, it seems, with the Bitcoin Halving Event of April 19.
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XRP Millionaires Reaches All-Time High
Ripple was the subject of high expectations from cryptocurrency investors all year. This asset is one of the fastest-growing assets due to its importance to international payments, and to all RippleLabs projects.
These expectations, however, haven’t been met yet in 2024. The asset struggled to break the $0.50 barrier consistently in the first quarter. Ripple’s fortunes seem to have turned as the number of XRP Millionaires has risen. The asset also posted a 10% increase in its last 7 days.
Santiment mentioned the record while discussing the 6 percent price rise the asst noticed earlier in the week. Moreover, the asset reached an all-time high on Monday of almost $0.57.
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The token’s price is now being closely watched to determine if the trend can be maintained. Its value has declined noticeably over the last 24-hours. Some investors have pointed to the US Securities and Exchange Commission lawsuit (SEC), which is ongoing, as the main reason behind the decline in value.
Resolution of this long court fight could be a significant factor in the price increase. The end is not clear, since both parties have proposed recent settlements with vastly different terms.
Ripple issued a settlement of $10 million in response to SEC requests for $2 billion in fines. It remains to be determined if the SEC and Ripple can come together in order to move forward. The price of XRP will be crucial when that time comes.
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Source: watcher.guru
