Altcoins News

Story: XRP Rockets Past $1.40 as March Rally Gains Steam

By Sakamoto Nashi

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XRP jumped hard yesterday. The cryptocurrency tied to Ripple shot up 6% on March 13, hitting $1.40 and catching traders off guard with its sudden burst of momentum.

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Investors can't ignore what's happening here. The digital asset has been climbing steadily, and yesterday's move pretty much confirmed that something bigger might be brewing.

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Ripple's still fighting the SEC. That case started back in December 2020.

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The legal battle keeps casting a shadow over XRP's price action, and traders know it. The Securities and Exchange Commission claims Ripple sold unregistered securities, which…

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On March 10, Ripple CEO Brad Garlinghouse said he's optimistic about beating the SEC. "We expect a resolution by the end of the year," he told reporters, which got XRP holders…

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Things get interesting when you compare XRP to Bitcoin. While Bitcoin sits around $63,000 without much drama, XRP keeps swinging wild.

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Crypto analyst Sarah Jensen thinks institutional money is driving XRP's recent surge. She pointed out on March 12 that several financial institutions have been quietly exploring…

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Exchange data backs up the institutional interest theory. Binance and Coinbase both reported massive spikes in XRP trading volume throughout March.

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Ripple keeps building partnerships while fighting the SEC. On March 11, the company expanded its deal with SBI Holdings in Japan, aiming to boost XRP adoption across Asia.

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Stuart Alderoty, Ripple's General Counsel, fired back at the SEC on March 9. "We're committed to defending ourselves against these unfounded allegations," he said during a legal…

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Investment flows tell another part of the story. CoinShares reported on March 8 that XRP investment products pulled in $3.8 million last week.

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Technical traders are getting bullish too. Alex Krüger tweeted on March 7 about XRP's chart setup, calling it a potential breakout candidate.

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The European angle adds another wrinkle. On March 6, Ripple secured a partnership with a major European bank for cross-border payments using XRP.

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Trading volumes across major platforms jumped 40% yesterday compared to the previous week. That kind of activity usually means something's brewing, though crypto traders know…

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XRP closed yesterday at $1.40, up from $1.32 the day before.

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