Why Is Ripple’s (XRP) Price Up Today?

TL;DR

It was just a few days ago that US District Judge Analisa Torres dealt a blow to Ripple and the SEC,denyingtheir joint motion for a quicker lawsuit resolution once again. In response, XRP’s price slumped by over 3%.

While that price decline might have been anticipated, since the lawsuit technically continues months after Ripple’s CEO Brad Garlinghouse announced that it had effectively ended, what was more surprising was the community’s reaction.

Data shared by Santimentrevealedthat the crowd became significantly more bullish on XRP following Judge Torres’s decision, with positive comments outnumbering negative ones in the highest manner in over two weeks. Moreover, XRP surpassed BTC and ETH on this metric.

Now, though, this sentiment seems to be paying off as Ripple’s cross-border token has soared by almost 5% in the past 24 hours and has tapped $2.2 for the first time in days. Additionally, XRP is the top performer from the 50 largest altcoins, marking bigger gains than ETH and BTC, both of which are essentially at the same levels as yesterday.

Another possible reason behind the token’s impressive gains today is the adoption news coming from the US. As recently reported, Coinme has added XRP to over 28,000 locations in the country where people can buy and sell the asset with cash.