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On Friday, October 7, the broader cryptocurrency market once again came under selling pressure amid the unemployment data coming from the U.S. However, Ripple’s XRP has chosen to look in the other direction gaining 8% in the last 24 hours.
As of press time, XRP is trading 7.3% up at a price of $0.52 and a market cap of $26.1 billion. The recent price jumping XRP comes as the Ripple network growth peaks to a 3-month high. As on-chain data provider Santiment reported:
#XRPNetwork has jumped back over $0.52 on a mild decoupling from the rest of the #crypto back today. Yesterday’s network growth was the highest in three months, with over 2,773 $XRP new addresses created.
The current optimism surrounding XRP is also due to the market expecting an end to the SEC case very soon. Also, Ripple holds the edge in this case and seems that it could defend its position of XRP not being a security.
Ripple defendants recently filed the motion opposing
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