The price of XRP, the native token of the to date around $0.95.
According to available market data, XRP hit its high for the year after US federal judge Analisa Torres determined that the In 2020, Ripple faced a lawsuit from the SEC for allegedly violating US securities regulations by selling XRP without first registering with the agency.
Judge Analise Torres determined that XRP was in fact a security when Ripple initially sold it to institutional investors, but not when it was sold to the general public.
Judge Torres' main reasoning was that institutional investors who purchased XRP from Ripple likely understood that it possessed certain characteristics of a security. However, this information was not necessarily available to those who acquired XRP through cryptocurrency exchanges.
Now, cryptocurrency analyst Egrag Crypto has suggested that in a โ55-day highโ In other words, XRP "typically crawls like a snail until it transforms into a rocket." .โ
Another analyst suggested that .2 at the end of that year.
XRP was recently surpassed by Solana in terms of market capitalization and is now the fifth largest cryptocurrency by the metric. Data from the XRP Ledger shows that activity on the network is increasing nonetheless, with the number of XRP transactions recently reaching 1.5 million per day.
Furthermore, according to XRPScan According to data, the number of unique addresses active as senders recently increased from around 9,000 per day to more than 13,000.
Featured image via Pixabay.
