{"id":188501,"date":"2021-04-27T14:00:31","date_gmt":"2021-04-27T13:00:31","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=188501"},"modified":"2021-04-27T12:24:43","modified_gmt":"2021-04-27T11:24:43","slug":"xrp-pumps-22-in-a-single-day-as-sentiment-continues-to-grow","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/xrp-pumps-22-in-a-single-day-as-sentiment-continues-to-grow\/","title":{"rendered":"XRP pumps 22% in a single day as sentiment continues to grow"},"content":{"rendered":"<p><a href=\"https:\/\/cryptoslate.com\/news\/xrp\/\"><span style=\"font-weight: 400;\">XRP<\/span><\/a><span style=\"font-weight: 400;\">, the world\u2019s fourth-largest cryptocurrency by market cap, surged by 22% today on the back of positive sentiment relating to an ongoing case with the US Securities and Exchange Commission (SEC), data from multiple sources showed.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It trades at $1.42 at press time and has a market cap of over $64 billion with a circulating supply of 46 billion, data from analytics tool CoinGecko shows.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As the below image shows, XRP trades about its 34-period moving average\u2014a popular tool used by investors to determine an asset\u2019s price trends based on historical price changes\u2014and remains in a strong uptrend.<\/span><\/p>\n<figure id=\"attachment_188503\" aria-describedby=\"caption-attachment-188503\" style=\"width: 1805px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-188503\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/04\/ztnX2KJk.png\" alt=\"\" width=\"1805\" height=\"855\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/04\/ztnX2KJk.png 1805w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/04\/ztnX2KJk-300x142.png 300w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/04\/ztnX2KJk-1024x485.png 1024w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/04\/ztnX2KJk-768x364.png 768w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/04\/ztnX2KJk-1536x728.png 1536w\" sizes=\"(max-width: 1805px) 100vw, 1805px\" \/><figcaption id=\"caption-attachment-188503\" class=\"wp-caption-text\"><em>(<a href=\"http:\/\/tradingview.com\/symbols\/xrpusd\">XRPUSD chart<\/a> via TradingView)<\/em><\/figcaption><\/figure>\n<h2><strong>SEC v. XRP takes a positive turn<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">Ripple <\/span><a href=\"https:\/\/cryptoslate.com\/ripple-faces-new-hurdle-in-legal-battle-against-the-sec\/\"><span style=\"font-weight: 400;\">faced troubles last year<\/span><\/a><span style=\"font-weight: 400;\"> after the SEC alleged the firm\u2019s founders of securities fraud and profiting to the tune of $750 million from the unlicensed sale of XRP tokens over the past several years.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Securities, for the uninitiated, are fungible and tradable financial instruments used to raise capital in public and private markets. These are issued in a highly regulated sector with stringent punishments for those found in violation of the laws.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The SEC had last year alleged that XRP tokens, which are used to transact on the Ripple network, were a security and hence liable to US laws. The regulator launched a lawsuit against the firm.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">At the time, the firm remained largely mum on the matter, save for a handful of comments from CEO Brad Garlinghouse who called the allegations \u201c<\/span><a href=\"https:\/\/cryptoslate.com\/ripple-boss-appears-on-axios-calling-sec-lawsuit-misguided\/\"><span style=\"font-weight: 400;\">misguided<\/span><\/a><span style=\"font-weight: 400;\">\u201d and said the US was the <\/span><i><span style=\"font-weight: 400;\">only<\/span><\/i><span style=\"font-weight: 400;\"> country to call XRP an unlicensed security.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">But things have since turned <a href=\"https:\/\/cryptoslate.com\/xrp-just-got-an-edge-in-the-ongoing-ripple-v-sec-lawsuit\/\">for the good<\/a>. Last month, the firm won a \u2018discovery\u2019 from the SEC, allowing it to view internal discussion about the \u2018security\u2019 status of cryptocurrencies like Bitcoin and Ethereum. This was taken as a positive sign by the broader XRP community and saw the token surging from under $0.30 to over $0.60 in the days after.<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">There\u2019s been interest from the institutional side as well. As <\/span><i><span style=\"font-weight: 400;\">CryptoSlate<\/span><\/i><span style=\"font-weight: 400;\"> reported last week, institutional holdings of XRP <\/span><a href=\"https:\/\/cryptoslate.com\/institutional-investments-in-ripples-xrp-nearly-doubled-last-week\/\"><span style=\"font-weight: 400;\">nearly doubled<\/span><\/a><span style=\"font-weight: 400;\">, with investors citing price momentum and increasing acceptance for cryptocurrencies as their leading reasons.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>XRP, the world\u2019s fourth-largest cryptocurrency by market cap, surged by 22% today on the back of positive sentiment relating to an ongoing case with the US Securities and Exchange Commission (SEC), data from multiple sources showed. It trades at $1.42 at press time and has a market cap of over $64 billion with a circulating [&hellip;]<\/p>\n","protected":false},"author":65,"featured_media":188507,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[120,6849],"tags":[60946],"prediction_market_topic":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>XRP pumps 22% in a single day as sentiment continues to grow<\/title>\n<meta name=\"description\" content=\"XRP, the world\u2019s fourth largest cryptocurrency by market cap, surged by 22% today on the back of positive sentiment.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/xrp-pumps-22-in-a-single-day-as-sentiment-continues-to-grow\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"XRP pumps 22% in a single day as sentiment continues to grow\" \/>\n<meta property=\"og:description\" content=\"XRP, the world\u2019s fourth largest cryptocurrency by market cap, surged by 22% today on the back of positive sentiment.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/xrp-pumps-22-in-a-single-day-as-sentiment-continues-to-grow\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2021-04-27T13:00:31+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-04-27T11:24:43+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/04\/xrp.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Shaurya Malwa\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shaurya Malwa\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/xrp-pumps-22-in-a-single-day-as-sentiment-continues-to-grow\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/xrp-pumps-22-in-a-single-day-as-sentiment-continues-to-grow\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/shaurya-malwa\/#person\",\"name\":\"Shaurya Malwa\",\"url\":\"https:\/\/cryptoslate.com\/author\/shaurya-malwa\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/shaurya-malwa\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/shaurya-malwa\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/07\/author-shaurya-malwa.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/07\/author-shaurya-malwa.jpg\",\"caption\":\"Shaurya Malwa\"},\"jobTitle\":\"Analyst\",\"description\":\"Post-mining his first bitcoin in 2012, there was no looking back for Shaurya Malwa. 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An economics graduate from the University of Wolverhampton, he breathes financial markets and decentralized ideologies. When not writing, Shaurya works on his culinary skills, trades the big three cryptocurrencies, and surfs airplane blogs.","url":"https:\/\/cryptoslate.com\/author\/shaurya-malwa\/"}]}},"_links":{"self":[{"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/posts\/188501"}],"collection":[{"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/users\/65"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/comments?post=188501"}],"version-history":[{"count":1,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/posts\/188501\/revisions"}],"predecessor-version":[{"id":188504,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/posts\/188501\/revisions\/188504"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/media\/188507"}],"wp:attachment":[{"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/media?parent=188501"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/categories?post=188501"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/tags?post=188501"},{"taxonomy":"prediction_market_topic","embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/prediction_market_topic?post=188501"},{"taxonomy":"post_folder","embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/post_folder?post=188501"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}