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Ripple (XRP) in bull mode: here’s why

The Ripple price (XRP) climbed 20% to 0.43 euro cents.

By Finst News
• 3 min read
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Ripple (XRP) in bull mode: here’s why

The Ripple price (XRP) rose 20% to 0.43 euro cents. Cardano (ADA) also gained almost 15%. Here’s why.

Ripple's price has rallied in the last 24 hours. With gains of over 20% in some spots, the "bankcoin" has crossed the 0.43 euro mark. Over the course of the week, the setup looks solid as well: Ripple rose as much as 23%. Meanwhile XRP even hit 0.46 euro, its highest level since last November.

Technological updates and a successful lawsuit

One reason for the rally is a rising number of XRP Ledger (XRPL) users. As the company behind the project reported, a major expansion of Liquidity Hub is on the schedule. Ripple plans to use this to further scale asset tokenization. That includes tokenizing CO2-certificates. In addition to these tech updates, Ripple's price also benefits from the successful lawsuit against the Securities and Exchange Commission (SEC).

Crypto market sentiment positive

Ethereum-competitor Cardano (ADA) has also posted solid gains over the last 24 hours. With a gain of about 14%, ADA rose to just under 0.35 euros. Over the past week, ADA is up more than 10%.

Overall, both XRP and ADA seem to be benefiting from the current crypto market. In particular, Bitcoin managed to push past 26,000 euros in recent hours. Bitcoin’s price marked its most bullish week in five years.

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