XRP Reaches $1.58 as Ripple Prepares to go Public
XRP experienced gains on Friday, pushing the cryptocurrency up by 11.7% to $1.58
The increase pushed XRP’s market cap above $70 billion, more than 3.14% of the total cryptocurrency market cap
XRP’s gains have been driven by reports that Ripple plans to go public after resolving its lawsuit
XRP record strong gains following credible reports that Ripple was going ahead with its plans of going public.
The troubled crypto company is planning to go public despite legal battles with the Securities and Exchange Commission (SEC), According to Yoshitaka Kitao the CEO of SBI Group.
Yoshitaka Kitao believes that SBI’s investment in the crypto company will come good after they go public.
At the time of this report, XRP is trading at 1.55, 11.5% up in the last 24 hours.
XRP was trading as low as $1.37604, the previous day, before the announcement.
In the last seven days, XRP has gained 42.46% and it has a current market cap of $70.1 billion.
At this current price, XRP is some way from its previous all-time high of $3.29 in January 2018.
Other major cryptocurrencies Bitcoin and Ethereum are trading at $54,541 and $2,788 respectively.