Ripple (XRP) Gains Ten Percent, rebounds Above one Dollar

By: Bharggavi Ssayee

June 1, 2021 8:39 PM

Ripple's XRP starts the week with growth of over 10%. The token thus returns above the dollar mark.

This is a great way to start the week after days of very high volatility and collapse in cryptocurrency values. So, XRP is back to $ 1. Over the past 24 hours, Ripple's token has gained just over 10%.

During the last 7 days, XRP even increased by 26%, Several factors can explain this strong growth. First, a positive trend in crypto.

XRP is very volatile

Investing in XRP therefore carries a significant risk due to the high volatility of this crypto pending a final judgment. The SEC is determined to get the judge to qualify the token as security.

This showdown has profound consequences for the value of XRP. Prior to December 2020, cryptocurrency was well established in the world rankings in 3rd place, behind Bitcoin and Ethereum. She can no longer claim this status.

The formalization of the SEC complaint caused the price to drop from $ 0.50 to $ 0.21. Signs of improvement then appeared in 2021. In April, XRP climbed back to $ 0.55. On the 15th of the month, it even peaked at $ 1.85.

XRP price did not wait for the May crypto crash to fall, however. He was backing off the entire second half of April. The fall in cryptoassets in mid-May did not spare him either and XRP fell back below $ 1.