XRP Price Rising Due to Sologenic Factors

23 Sep 2022 By: Divya Behl
XRP Price Rising Due

Ripple's native token XRP is trading at an all-time high, 

while other major cryptocurrencies are under significant selling pressure

Over the last seven days, XRP has been the top gainer, outperforming all market sentiments.

Sologenic a key behind XRP surge

As per XRP charts, Sologenic may be the primary reason for the current price increase in XRP. Sologenic is an XRP-based DEX and NFT marketplace that is fast and safe. In the last 24 hours, the price of XRP/Sologenic has increased by more than 10%.

XRP charts also show that the price of XRP/STX has increased by more than 32% in the same period. STX, on the other hand, is the first multi-token soft staking platform on the XRP ledger.

It appears that a recent increase in NFT build on XPRL is propelling Ripple's native token to new heights. According to CoinGabbar statistics,  XRP prices have increased by 11% in the last 24 hours. However, its price has increased by 35% in the last 7 days, outperforming other prominent cryptocurrencies.

The 24-hour trading volume of XRP has increased by 11% to $4.18 billion. Despite the recent crypto market crash, it still has a market capitalization of more than $22.3 billion.

Ripple winning the crucial long-term ruining case

Earlier, CoinGabbar reported that crypto whales are shifting from Ethereum to Ripple's native token over the last week. ETH, the second largest coin, is down 16% in the last seven days. Meanwhile, Ethereum has recently gone through a historical shift from PoW to PoS.

As per reports, the Ethereum price has seen a significant correction. It has dropped by more than 20% since then.

However, the XRP price is rising since both parties in the Ripple litigation have filed motions for Summary Judgment. This has finally resulted in an increase in investor sentiment.

However, a new Amicus Curie has joined the Ripple case. The Chamber of Digital Commerce requested access to file the brief.

Read also: Crypto Prepares For Another Crash As Fed Diminishes "Soft-landing"