XRP Gains 30% In 7 Days: Is Trump’s Assassination Attempt Driving Ripple?

XRP might be cooling off when writing but the uptrend is clear following the close above $0.55. Ripple bulls are aiming at $0.74

Written by: Dalmas Ngetich • Thursday, July 18, 2024 • 2 min read

• Last updated: Thursday, July 18, 2024

XRP bulls are unrelenting despite the cool-off earlier today. The leg up of this week is refreshing for the diamond hands that held through the turbulence of April through early June. At some point, XRP flash crashed below $0.40, forcing some traders to capitulate. However, looking at price action, buyers are getting started. With $0.55 broken and Ripple bulls angling at $0.66, upbeat buyers are now angling at 2024 highs.

The impressive performance saw XRP briefly reclaim its sixth position in the market cap leaderboard, flipping USDC. So far, the coin has a market cap of over $32 billion. It is down 4% in 24 hours but added over 30% in the past week. The upswing has also seen the average trading volume rise to over $3.8 billion in the past day.

XRP Daily Chart for July 18

Traders and investors are closely tracking the following XRP and Ripple news:

Even though 150 million XRP were released from a wallet associated with Ripple, it didn’t prevent the market from soaring. As of July 17, the coin was on its 10th day of steady higher highs.
Analysts note that the attempt on former president Donald Trump’s life, coupled with the recovery of Bitcoin and news of Ripple lawyers holding private talks with the United States SEC, are primary drivers of price. At this pace, however, it remains to be seen whether bulls will drive the coin above $0.66.