XRP sees renewed demand for its network; the reason is quite surprising
Despite being embroiled in one of the biggest and most controversial lawsuits in the brief history of cryptocurrencies, Ripple [XRP] managed to log in significant gains over the last few weeks of trading activity.
According to CoinMarketCap, XRP grew phenomenally, to the tune of nearly 20% over the past week. Moreover, its growth on a month-to-date (MTD) basis was 21%.
At the time of writing, it was the sixth largest crypto in the market, having added $3.8 billion to its market cap since the start of March.
All these factors underlined that March was a profitable month for the coin. But what’s powering this momentum?
Realistic or not, here’s XRP’s market cap in BTC terms
According to Whale Alerts, a website that tracks whale transactions, a large amount of XRP tokens were moved across wallets recently. One large address scooped up 50 million XRP tokens, worth $22 million, after a transfer from Mexico-based crypto exchange, Bitso.
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