XRP is up nearly 32% over the past seven days XRPCommunity Ripple
sold XRP as illegal securities. The token, which is used for cross-border payments, also surpassed Cardano and Solana, becoming the sixth-biggest cryptocurrency by market valuation, according to CoinMarketCap.
Among the top ten cryptocurrencies in terms of market capitalization, XRP, Avalanche, and Bitcoin take the lead, posting weekly gains of 32.79%, 26.23%, and 14.57%, respectively.XRP saw a bearish turn after hitting resistance at $0.916. Some bulls who entered at $0.58 booked some profits. At press time, XRP is trading at $0.818, down 7.85% in the last 24 hours in line with the performance of the broader market.
Bitcoin and the rest of the top cryptocurrencies dropped in response to the latest consumer price index data from the United States. The CPI has increased by 0.6% over the past month, beating analysts' expectations. According to analysts, the markets slumped lower on the expectations that the Federal Reserve may have additional motivation to begin raising interest rates sooner due to the pace of year-over-year growth of consumer prices.
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