XRP Rises: Historical Transactions for the Ripple Cryptocurrency!
In recent weeks, all eyes have been on Ripple (XRP). In the ecosystem, most investors are anticipating an imminent explosion in the crypto’s value, due to the developments in the ongoing lawsuit between Ripple and the SEC. Indeed, as discussions continue between the two parties, the XRP market is buzzing. XRP activity has reached a record high not seen since August. Details here.
XRP Transaction Record: A Highly Anticipated Crypto Rally
As crypto expert John Deaton indicated, in crypto investment, anticipation is key to success. And right now, this anticipation is palpable in the XRP market.
Indeed, the transactional activity on the XRP market, which has been showing impressive growth since mid-August, has just set a record. According to data from XRPscan, the number of crypto transactions executed on the Ripple market has reached 1.38 million. This is a first since mid-August 2023.
It is worth remembering that the company and the regulator met behind closed doors on November 30, 2023, to align their stances. The meeting truly fueled hopes, even though new hearings are scheduled for 2024.
In the meantime, XRP holders are firmly convinced that Ripple will win the lawsuit, which should translate into an explosion in the crypto’s price. While its price has remained below the $0.64 mark since the beginning of December, several analysts have confirmed the theory of an upcoming rise.
XRP vs. SEC: More Than a Trial, The Birth of a Pro-Crypto Precedent
So far, XRP has maintained its upward trend. According to analyses, the crypto could re-attain the $0.75 mark it reached last November 13. Currently, its price has already accomplished 83% of that goal. While the expected rally may encounter resistance, the high transactional activity of XRP confirms the theory of an imminent explosion.
And if these predictions come true, Ripple would benefit twofold from this lengthy trial. On one hand, a rally and an increase in the value of its native crypto and on the other, a significant regulatory advance for the ecosystem.
Indeed, according to Ripple’s CEO, if the SEC had not suffered a defeat against Ripple, it would have continued its crusade of aggression against several other crypto projects. Thus, if the crypto company ultimately wins the lawsuit, this case will also constitute a pro-crypto precedent that the unregulated crypto ecosystem can rely on in the future.
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Diplômé de Sciences Po Toulouse et titulaire d'une certification consultant blockchain délivrée par Alyra, j'ai rejoint l'aventure Cointribune en 2019. Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l'économie, j'ai pris l'engagement de sensibiliser et d'informer le grand public sur cet écosystème en constante évolution. Mon objectif est de permettre à chacun de mieux comprendre la blockchain et de saisir les opportunités qu'elle offre. Je m'efforce chaque jour de fournir une analyse objective de l'actualité, de décrypter les tendances du marché, de relayer les dernières innovations technologiques et de mettre en perspective les enjeux économiques et sociétaux de cette révolution en marche.
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.