Ripple [XRP] rallies after bearish week

Ripple rallied to the $0.80 mark after a slow sink in value this week. It looks to be getting out of the red with just a 0.52% decline in the last 24 hours. It is still the 4th worst performer this week out of the top 10, but a return to the $0.80 mark signifies a bullish rally today.

It is currently trading at $0.80, up from earlier today with a low of $0.77. XRP declined this week after the rally on May 4th from $0.86 to $0.92. It started its fall on May 6th, from $0.91 to $0.87, with a further drop from $0.87 to $0.80 on May 7th.

XRP’s freefall continued on May 9th with a further drop from $0.80 to $0.77. It started its rally from $0.77, going up to $0.80 where it continues to hover.

XRP’s all-time high of $3.21 still seems a faraway vision, however. Its break into the $1 zone has also not been replicated since March 5th of this year.

Ripple has been plagued last week with bad press, with the declaration of a class-action lawsuit against it by a disgruntled investor. The situation seemed to worsen when another law firm, Johnson Fistel announced that it would investigate Ripple. Ripple has not commented on any developments in the lawsuit as of yet apart from responding to the initial allegation.

Things seem to be taking a turn for the better on the technical side of things for the XRP token, as the 1.0.0 launch of the Rippled network was confirmed today. The update will present a finished XRP Ledger product, ready for market adoption.

Twitter user Alex Cobb said on this:

“#ripple just moved to 1.0.0 rc1 3 hours ago, #XRP will be implemented and actually used how its supposed to very soon. If speculation got us to almost 4$ then actually use cases will drive us much further than that”

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