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XRP Price Gains 6% Following Strong Recovery

Two Fraud Allegations Dropped; XRP Lawsuit Continues – Crypto Gazette

October 5th 2020

XRP is currently the best performing top 10 cryptocurrency in the last day, after gaining 6.2% in the last 24 hours.

The price of XRP is now trading at $0.248 — up from $0.234 yesterday and $0.243 this time last week. Overall, the cryptocurrency is now up across all short-term timeframes.

Scaling further back, XRP is up 28.7% since the start of the year, but despite these gains it is still one of the worst-performing top 10 cryptocurrencies this year.

This price action comes less than a week after more $4.5 million worth of XRP stolen from the KuCoin exchange was moved by the hacker (which KuCoin claims to have now identified). However, with an average of $1.5 to $2 billion in daily trading volume, it is unlikely this amount would adversely affect the XRP market if the hacker dumped it on an exchange.

Moreover, Ripple—a firm dedicated to supporting the XRP cryptocurrency—recently committed to achieving carbon neutrality by 2030, by collaborating with Energy Web Foundation to produce a tool projects can use to cut their carbon footprint. This seems to be the latest move to present it in a better light than Bitcoin, which uses up a lot of electricity to run, in combination with Twitter ads presenting XRP as lighter on the environment.

Though XRP is the best performing cryptocurrency today, Binance Coin (BNB) is the best performer this week—having gained 9.5% in the last 7 days to reach $28.67.

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XRP Editor

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