XRP worth $60 billion amid Robinhood listing

XRP is on a bullish momentum gaining 80% within a week and  posting a market valuation of $60 billion.

Several positive news items like the re-listing on  Robinhood and the likely departure of Gary Gensler, the head of the SEC, have helped the token.

Given that the SEC is still suing Ripple and a likely change in leadership could end the case, this would undoubtedly be good news.

Last but not least, SG-FORGE, the cryptocurrency subsidiary of the French bank Société Générale, has revealed plans to add EUR CoinVertible (EURCV), its stablecoin, to the XRP Ledger.   The altcoin’s recent surge has enabled the cryptocurrency to emerge from a period of consolidation that began last summer.

XRP price chart shows a sell signal from the Daily Active Address Divergence (DAA) indicator. This indication stems from a decline in investor involvement despite the recent price spike, which caused the altcoin market to react instantly. Its price paused today due to the ensuing selling pressure, underscoring the impact of this sell signal.

This is in contrast to most cryptocurrencies, which have been correcting more or less sharply since yesterday. In contrast, Bitcoin has only increased by 15% in the past seven days.

Even though XRP had posted  amazing short-term gains, it is still down about 65% from its record peak, which was reached nearly seven years ago. Ethereum  and Bitcoin have fallen 3% and 40% from their respective lifetime highs.