XRP takes over top 100 cryptocurrencies this week as the most profitable coin

By Selena 03/9/23 4:41 PM

Among the top 100 most valuable cryptocurrencies according to market capitalization, XRP is now the week’s most profitable cryptocurrency. As a result, since Monday, the token’s price has increased by 7.7%, even though the overall value of the cryptocurrency market decreased by 2.6% during that time, losing $26 billion and recovering before reaching $1 trillion.

Since March 6, XRP has been steadily increasing. The price hike intensified on March 7 after Judge Torres decided to exclude expert testimony. While investors speculated that the Ripple lawsuit’s conclusion might be approaching, the rise grew stronger. On March 8, XRP spiked to a high of $0.40 before a little decline, still trading positively at publication. At the time of publication, XRP had increased by 2.3% over previous day to trade at $0.3904 and was on track to post gains for a fourth straight day.

XRP/USD 4-hour chart | Source: TradingView

Shiba Inu’s BONE, whose ascent is likewise being fueled by fundamentals in the form of Shibarium, which is expected to be published this week, is trailing XRP regarding profitability. This situation’s eagerly anticipated publication may end up being a “sell the news” occasion.

Every day this week saw an increase in the price of XRP, but Tuesday saw the highest increase. However, it was reported at the time that Judge Torres had disregarded an SEC expert’s testimony regarding the reasons behind investors’ purchases of XRP. The judge’s ruling, in the opinion of pro-crypto lawyers, might prove catastrophic for the regulator because it leaves the XRP holders’ case as the only viable one.

It’s unclear whether the SEC case against Ripple’s success will help keep XRP quotes active and prevent them from declining along with the market. According to historical evidence, the XRP price will eventually go in a particular direction, and any alterations to this trend are only expected to last a short while.