In the midst of large price rises by the majority of assets in the cryptocurrency business, XRP has not been an exception. It has been making increases on its daily and weekly charts, surpassing the $0.55 price barrier, and adding more than one billion dollars to its market capitalization in a single day.

In particular, the market capitalization of XRP has increased from $28.66 billion to $29.66 billion in only twenty-four hours, which indicates that it has gained $1.18 billion and risen by 4.12% during this time period, as shown by the most current data collected by Finbold from the cryptocurrency market analytics portal CoinMarketCap on February 15.



In the meanwhile, the XRP token is presently trading at a price of $0.554, having first surpassed the $0.55 mark. It has recorded a growth of 4.44% in the last twenty-four hours and of 7.25% throughout the preceding seven days, as it strives to reverse the 3.58% loss that it has amassed over the course of the last month.

After receiving legal clarity in the case between Ripple and the United States Securities and Exchange Commission (SEC), the asset's rally coincides not only with the bullish sentiment in the cryptocurrency sector, but also with the anticipation that banks in the United States might use it for cross-border payments. This is because the asset is expected to enable banks to use it for international payments.

Finbold revealed earlier on February 14 that a dormant cryptocurrency wallet address managed by Ripple has lately woken up to dump 100 million XRP worth $53.5 million to the blockchain company's treasury account. This account is utilized for retaining the company's liquid reserves for sell-offs. It is interesting to note that XRP is also racing.

In the meanwhile, the sophisticated artificial intelligence (AI) algorithms that are used by the cryptocurrency and stock analytics platform CoinCodex have forecasted that the price of XRP will continue to rise by the end of February. As of the time of this publication, the price is expected to reach a highly optimistic $0.70 by February 29, 2024 with this prediction.


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