XRP is outperforming other crypto projects in the top 10. The token is up by 7.9% in the last 24 hours. Moreover, in the last seven days, XRP rallied by up to 8.4%.
The surge follows a rally in the larger crypto markets as well. The global crypto market cap increased by 3.8%, reaching $927 billion. This is the first time the crypto market cap has crossed $900 billion in the past several months. Bitcoin (BTC), the original crypto, has crossed the $18k mark, currently trading at $18,223.99, up by 4.6% in 24 hours. Ethereum (ETH) is currently trading at $1,401.25, up by 5.3% in the same time frame.
However, XRP is outperforming the rest with a 7.9% spike in 24 hours, which begs the question…
What’s pushing XRP?
No news seems to be pushing the XRP surge. Moreover, there is no update on the SEC vs. Ripple lawsuit. However, there are a few court dates that may have played a hand.
The parties submitted their objections to the omnibus motions to seal on Monday. Notably, the Defendants kept concentrating on the records pertaining to the William Hinman speech, putting the possibility of a settlement on the table. The SEC is steadfast in its effort to keep the substance of the records linked to the Hinman speech out of the public eye, and these materials remain crucial to the case.
Moreover, the parties must file the Daubert Motions on January 13. On January 18th, all parties and non-parties must file an opposition to non-party motions to seal.
Many expect the SEC vs. Ripple lawsuit to provide insight into how the future of digital asset regulation will turn out.
At press time, XRP was trading at $0.377267, up by 0.3% in the last hour. However, XRP is down by a whopping 89% from its all-time high of $3.40, attained in January 2018.