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With the recovery in the broader crypto ecosystem, XRP is sailing the tides to new coasts. The cryptocurrency activated its rebound mode after soaring as high as 3.4% in the past 24 hours to $0.522. Over the trailing seven-day period, XRP has jumped by more than 7%, according to data from CoinMarketCap.
This recovery means a lot for XRP bulls and its broader community of HODLers as the need to recover lost ground remains the key pursuit. Over the past six months, XRP has traded far below its core rivals. The price of the asset has dropped by 17.07% over the past six months, with related losses inked in the three-month and monthly time frames.
While it is too early to determine how ambitious this current resurgence will be, there is a need to return to winning ways. Many XRP proponents have lost confidence in the prospects of the coin after failing to retest the $0.8 price level it traded at following the ruling on its status by Judge Analisa Torres in July last year.
At the moment, combating its current headwinds remains a key goal for the coin, including fending off any form of fear, uncertainty and doubt (FUD) as it concerns its security.
XRP advances in network milestone
With more than five million monthly active users, XRP and the XRP Ledger (XRPL) have continued to hit significant milestones across the board.
Besides the regularly updated XRP Ledger, which recently welcomed the Clawback feature on its mainnet, the protocol is currently focused on ushering in the next wave of layer-2 scaling solutions to further advance its influence.
This goal has led to the emergence of Evernode (EVRS) and the Xahau Sidechain, both of which are expected to pioneer the next massive innovation boom on the XRP Ledger protocol.