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Ripple (XRP) Price Jumps to New Four-Month High

Ripple (XRP) Price Jumps to New Four-Month High

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  • Ripple (XRP) recorded a new four-month high since May.
  • XRP rose over 63% in the last 7 days.

Following the latest US Federal Open Market Committee meeting, Ripple (XRP) broke through a major hurdle to hit a new four-month high as crypto market volatility eased. As of this writing, XRP is up over 32% in the last 24 hours, the highest level since May.

The price of XRP has now reached a new all-time high since May 8th when it was around $0.5665. According to CoinMarketCap, the exchange rate of XRP was 0.5374 with a trading volume of $6,118,765,859, and XRP has a market capitalization of 26 billion.

Ripple (XRP) price chart (Source: Tradiview)

XRP breaks the price level

On September 13, Ripple Labs, Brad Garlinghouse and Chris Larsen filed a motion for summary judgment. After that, defense attorney James K. Filan stated On his Twitter account, that the court accepted the motion. This legal procedure requires the court to make a final decision based on the facts presented, rather than ordering a trial.

The announcement may increase individuals’ view of XRP’s long-term prospects. As a result, the price of XRP has risen approximately 63% over the past 7 days, and XRP has gained 56% over the past 14 days. Additionally, XRP prices have increased by over 56% in the past month.

The peak comes as the 14-day relative strength index (RSI) also hit a multi-month high. The index is currently tracking at 77.92, the highest level in more than nine months.

In addition, Ripple is taking additional initiatives for the future to prevent the impending climate crisis. The Ripple blockchain company has signed the Climate Pledge to achieve zero carbon dioxide emissions by 2040.

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