The Rise of XRP: 5 Reasons Why It's Bull Run Is Far From Over

The price of the sixth largest cryptocurrency in the market, XRP, has been on an uptrend since Monday, likely driven by Bitcoin's price action and the overall bullish market trend. As a result, XRP's market capitalization has also increased from $20 billion to a new yearly high of $25 billion, further solidifying its uptrend.

Timeline of Xrp

XRP has gained more than 28% over the past 24 hours thanks to a Notice of Supplemental Authority filed by Ripple. The letter highlighted a recent ruling related to crypto and securities, and is expected to strengthen Ripple's defense in the legal battle against the SEC.

XRP Price Prediction: The XRP price witnessed a massive inflow today and breached a four-month high resistance of $0.43. Thus a decisive breakout supported by a strong upsurge in volume activity indicates the buyers' commitment to regain higher prices.

Bitcoin's price has been trending upward lately, while Ripple has remained relatively stable, staying around the same level without much movement. However, XRP is currently showing signs of strength as it has surpassed a significant resistance level.

XRP News: With the surge in XRP price, the focus is now on Ripple's products, of which the XRP Ledger is highly talked about. While on one side the US regulatory landscape is yet to offer any clarity around the XRP lawsuit, the altcoin is currently standing out among top cryptocurrencies.

As the SEC vs Ripple lawsuit drags on, lawyers representing the crypto firm and its co-defendants have sought to adduce new evidence which they hope could greatly aid their defense arguments.

An observer in the Ripple-Twitter space caught the attention of cryptocurrency lawyer Bill Morgan, not long after he predicted that Ripple would lose its case with the U.S. Securities and Exchange Commission (SEC). The observer who describes himself as a Crypto Enthusiast is convinced that Ripple will lose to the SEC.

On Tuesday (March 21), XRP is outperforming Bitcoin and all altcoins among the top 50 cryptocurrencies by market cap with a nearly 18% gain versus USD. According to data from TradingView, on crypto exchange Bitstamp, currently (as of 4:35 p.m. UTC on March 21) XRP-USD is trading at around $0.44057, up 15.

Cryptocurrency is not an old industry. Bitcoin kicked off the industry as we know it when Satoshi Nakamoto mined the Genesis block on January 3rd 2009, as the world reeled from one of the worst financial crashes in recent memory.  Only three years later, XRP was launched, a decentralised asset built for payments.

Xrp rose to a two-month high on March 21, despite crypto markets mostly consolidating in today's session. The token surged by as much as 12% on Tuesday, whilst the global market cap is trading 0.51% higher as of writing. Cardano was also in the green today.

XRP News: The global digital asset market recorded a slight downturn on Monday after witnessing a massive surge amid the ongoing banking crisis. The biggest cryptos like Bitcoin (BTC) and Ethereum (ETH) prices registered a decline of around 2% each.