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The XRP Price rose 26.22% last week, outperforming major cryptocurrencies like Bitcoin and Ethereum, which are currently down 5% and 20%, respectively. At press time, XRP was changing hands at $0.427, up 6.71% in the last 24 hours, per CoinMarketCap The data.

According to on-chain analytics firm Santiment, two factors have contributed to XRP’s recent rise: increased optimism among traders and high whale movement.

Trader optimism has risen amid positive developments in the ongoing Ripple lawsuit. A well-known trader indicated that XRP has the most bullish setup in the crypto market right now, with the potential for another breakout.


Adding to traders’ optimism, the recent visit of Caroline D. Pham, an American lawyer who is Commissioner of the Commodity Futures Trading Commission (CFTC) to Ripple Labs, which she said was part of her “learning tour “.

Many believe that the timing of the visit might not be a coincidence. Some XRP proponents have even speculated that the CFTC could take over as the regulator of the currency, which could mean that XRP would be classified as a commodity.

Additionally, the past few days have seen significant whale movements. As reported by U.Todaya transfer of 30 million XRP was reported by WhaleAlert, while an additional 261 million XRP coins were moved by whales between wallets on various top exchanges the previous day.

The Chamber of Digital Commerce will file an amicus curiae in court

In recent updates shared by James K. Filan in the ongoing lawsuit, “The Court has considered the Chamber of Digital Commerce’s request for leave to file an amicus curiae brief and the parties’ responses, and has granted the House’s request.”

There remains a silver lining in the Ripple lawsuit, according to CryptoLaw founder John Deaton: “With Gary Gensler proving to be Crypto’s Grim Reaper, claiming that all ETH transactions are subject to US jurisdiction and that the merger with PoS may have triggered the securities laws, Clayton may have unwittingly provided Ripple and XRP with the gift of clarity.”

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