After a court of success: XRP increases to the top of the cryptocurrency market with 21% trading volume and 60% price increase.
After a court of success: XRP increases to the top of the cryptocurrency market with 21% trading volume and 60% price increase.
XRP token climbs to the top of the cryptocurrency market to
In a surprising development, the native token of the XRP Ledger, $ XRP, conquered the trading volume to the top of the cryptocurrency market and achieved an impressive share of 21% of the total volume. This increase goes hand in hand with an astonishing price increase of over 60% within a week.
This comet -like development of XRP is closely associated with significant legal development. The XRP trading volume experienced a massive increase after a federal judge in New York decided that the XRP token was "not necessarily a security at first glance". This decision was made as part of the ongoing legal dispute between Ripple, an important actor in the XRP ecosystem, and the US stock exchange supervision Sec.
The legal dispute began in 2020, when the SEC submitted a lawsuit against Ripple and claimed that the company had violated US securities laws by selling XRP without registration with the authority. However, judge Analisa Torres found in a current judgment that XRP could be regarded as a security, when Ripple originally sold it to institutional investors, but did not receive the same classification when selling to the general public
The reason for this distinction is that institutional investors may have had certain safety-like features of the XRP token, while investors who bought XRP on cryptocurrency exchanges did not have the same information.
Stuart Alderoty, Chief Legal Officer von Ripple, expressed his satisfaction with the judgment on social media and described it as a "big profit", since sales are not considered to be securities.
After the court decision, analysts were increasingly optimistic about XRP and forecast considerable price increases for cryptocurrency. A well-known crypto analyst even predicts that the value of XRP could reach $ 6 in the near future.
Another analyst, Michaël van de Poppe, gives a more differentiated perspective on the price development of XRP. He admits that a downward correction to around $ 0.65 is possible, but emphasizes that such a decline does not provide any reason to worry. Instead, van de Poppe believes that this could pave the way for a strong bullish revival. He predicts that the value of XRP could increase up to $ 0.90.
The dominance of XRP in the commercial volume currently exceeds that of Bitcoin, the flagship cryptocurrency and the most liquid asset in the digital currency area, the trading volume of which currently accounts for 20% of the market. Ethereum, another important player in the cryptocurrency ecosystem, currently holds 8% of the market volume.
The recent legal victory of Ripple and the subsequent increase in the commercial volume and the price of XRP show the significant effects of regulatory developments on the cryptocurrency market. Since the market participants closely observe the ongoing legal disputes and the regulatory landscape, the dynamics in the area of cryptocurrencies will continue to develop quickly.
Overall, the remarkable performance of XRP shows the potential for significant market changes in both the trading volume and price increase in response to legal developments. It underlines the importance of staying vigilant and adapting to the constantly changing cryptol landscape.