$XRP Price Surges After Ripple Lawsuit Update and Mideast Calm

The crypto markets have recently seen a notable rebound this weekend, especially $XRP, the native digital asset of Ripple ($XRP) . The latest market data reveals that $XRP has surged amid the war de-escalation in the Middle East and Ripple’s decision to drop its appeal in the lawsuit with the U.S. SEC. This price resurgence is raising optimism across the community.

$XRP Records Massive Price Upsurge over Weekend

Based on the exclusive market data, the price of $XRP is currently hovering around $2.18. This indicates an increase of up to 0.19% over the past 24 hours. Along with that, the weekly performance of the prominent crypto asset is also attention-grabbing. Hence, over the past 7 days, $XRP has witnessed a substantial jump of 5.13% in its price.

Apart from that, the current market capitalization of $XRP is standing at $128.87B, displaying a 0.22% increase. However, its 24-hour trading volume has seen a considerable dip of 48.38% to reach $1.62B. Additionally, the 30-day price movement of $XRP also shows a 1.75% decrease. Despite this, the latest announcement by Ripple has played a crucial role in raising the value of the digital asset to a great extent.

Middle East De-Escalation and Ripple’s Cross-Appeal Withdrawal Against SEC Bolster $XRP’s Price

In this respect, Ripple Labs has announced the dropping of cross-appeal in the lawsuit with the U.S. SEC . This denotes a key turning point in the lawsuit that has continued for 3 years. Now, it is also expected that the SEC will extract its appeal, indicating the most keenly observed enforcement actions recorded in overall crypto history.

Apart from that, the de-escalation in the war scenario in the Middle East has boosted the entire crypto market.  The top crypto asset, Bitcoin ($BTC), has surged to its new all-time high, while other assets like $XRP have also seen noteworthy rises. At present, $XRP is encountering strong resistance at up to $2.20 as well as robust support at $1.93.