.png){kind=logo}
- Insights
- Cryptocurrencies
- Stocks
- White Papers
- Industry
- Geography
- Insights
- Cryptocurrencies
- Stocks
- White Papers
- Industry
- Geography
Based on the crypto market's recent shenanigans, Ripple is dominating the market. The XRP price has been on the rise recently. Much of the increase can be attributed to the investors' positive reaction to the speculation that Ripple might actually file a lawsuit against SEC. Even though the crypto has fallen from its previous hype due to the ongoing legal debacle, its current price performance clearly defines that XRP is the future! It is needless to mention that the SEC vs Ripple lawsuit has worked significant wonders for the token, and based on the current market sentiments, experts believe that Ripple's performance might even overtake the rapid growth of major cryptocurrencies like Bitcoin and Ethereum. Infact, despite its ongoing legal complexities and facing a vague future, the crypto has managed to reign among the top cryptocurrencies in the market and poses a significant investment for 2023.
Over the past couple of years, Ripple has been trying to protect itself against the SEC. The regulatory body basically accused XRP of presenting unregistered sales of securities, it wanted to regulate Ripple as a security asset. The SEC's approach to enforcing crypto regulations via legal pursuits has been condemned by several financial and blockchain leaders. Several crypto and fintech giants like Coinbase have stepped forward to support Ripple in its defense against the SEC. This step to garner more support has been one of the major triggers that enabled XRP to soar amid some of the most volatile times in the crypto market. Nearly 16 to 18 crypto and blockchain entities have filed amicus curiae briefs to support XRP's case against the SEC. Earlier, the token was de-listed from several exchanges as a result of the lawsuit, but now thousands of investors are on the waiting list across several major crypto exchanges to invest in it in the future.
Investor sentiments are critical in the crypto market since it is the primary factor that majorly impacts the performance of the crypto. In the upcoming months, analysts have predicted an incoming price rally for the token and claim that it is safe to say that XRP is the future.
A handful of crypto experts predict that XRP's potential to reach US$10 has not been diminished due to this lawsuit. Infact, some of them believe that Ripple will experience the same rate of adoption and industrial gain if compared with the gold standard of crypto, Bitcoin, and the largest altcoin in the market, Ethereum. The current processing speed of Ripple transactions, its affordable fees, and Ripple's growing list of partnerships with major global brands despite ongoing circumstances clearly point towards the fact that there will be more investors with respect to Bitcoin or Ethereum.
However, under bearish market conditions, investors constantly change their sentiments. The mainstream economic and financial conflicts are also not favoring the declining status of cryptocurrencies. Besides, investors are already losing massive amounts of money which is why they are reserving their finances and avoiding investments over risker assets. XRP has definitely gained the trust of many financial institutions and investors, however, it could take more time for XRP to actually provide a reliable and stable investment future to the investors.
In a nutshell, if you are looking for an affordable cryptocurrency to invest in, XRP might be a good option. However, if things go south for the crypto in the court, XRP investors should be ready to take a massive blow to their monetary funds. Either way, they should always focus on the market sentiments, the changing tides in the market speak a lot about how a crypto is going to perform in the future, and the same goes for XRP.
