Today’s $0.3847 daily high was reached by XRP, which has seen a 13.26% increase in its price. Although the coin was trading at $0.3729, it had not yet reached its daily high. However, all indicators indicated that bull pressure was still strong.
Today’s price surge comes as a relief for Ripple cryptocurrency, which has been battling a prolonged court battle against the US Securities and Exchange Commission (SEC).
This is the first time that XRP has traded above $0.35 in the last two weeks.
Why is the XRP market increasing?
Yesterday, June 23, the XRP Labs, the team behind RippleNet and XRP cryptocurrency, announced the launch of the Pro Beta version of Ripple’s main wallet, Xumm.
XummPro Beta is LIVE 🚀🚨
What will you receive right now? Push notifications will be sent to you regarding transactions and trades. pic.twitter.com/GSHZoy4l8j
— Xumm Wallet (@XummWallet) June 23, 2022
To start with, Xumm will only be available through paid subscription using Ripple’s native token XRP.
Ripple Labs expects to launch Xumm Pro once the Beta testing is complete. This will include full functionality, and subscribers will only need to switch to Xumm Pro via their wallet in order to use it.
Xumm Pro Beta features
Xumm Wallet features several innovations including the ability to split the wallet’s funds into two accounts: spending and saving, the opportunity to claim a free Tangem card, which is a kind of “cold” device for storing cryptocurrency, access to premium technical support, and the ability to buy XRP using Euros, through an on-ramp/off-ramp solution.
Ripple however clarifies that anyone wanting to use the Xumm Wallet will be required to go through a know-your-customer (KYC) procedure, a requirement that is however optional in the Beta testing.
Innovations by Rippe Labs
Despite economic hardships, Ripple has continued to roll out innovations such as the XRP Ledger. However, the Xuum Wallet deployment is expected to push the XRP prices higher in the coming days.
Ripple investors will be able to enjoy the Xumm Wallet, which is a great addition to the array of innovative products they can expect to have access to after the US SEC litigation ends.