Heres Why XRP Price is up 8% Today, Outperforming the Broader Market
XRP roars back from the DeepSeek sell-off to outperform the broader crypto market.After the DeepSeek market sell-off at the start of the week, most crypto assets have shown resilience with modest bounces to pare some of the losses, but not XRP. Interestingly, the asset has roared back with sizable gains to outperform the broader market, begging the question of why.Key Ripple StridesXRP has surged 18.5% from Monday, January 27, lows below $2.66 to highs of $3.20. At press time, the asset has relinquished some of these gains to change hands at the $3.15 price point. This represents an 8.59% increase over the past 24 hours, more than any other asset in the top 20 by market cap.XRP's recent gains appear to be tied to recent significant Ripple strides. On Monday, the firm disclosed that it had obtained Money Transmitter Licenses from New York and Texas, two regions known for stringent regulatory benchmarks. This comes amid the firm's fresh push to expand its reach in the U.S. as the crypto regulatory outlook brightens under the Donald Trump administration.With the license, the company can offer banks in the region its real-time global payment services, which leverage XRP Ledger rails and XRP for liquidity.With the New York and Texas MTLs, Ripple and its subsidiaries now hold a total of 55, the firm said. Amid XRP's latest rally, prominent crypto analyst "EGRAG CRYPTO" has asserted that the asset is back in a short-term bull trend, citing a close above the 21-period exponential moving average. They also noted that the $3 price point was evolving into strong support as bulls have actively purchased dips below this level.
Text source: The Crypto Basic
