In the last 24 hours, XRP’s price rose by 3.81%, continuing the positive trend it experienced in the past weeks. XRP is currently trading at $0.84. This comes after the consistent 1.0% gain the token saw in the past weeks.
Ripple XRP saw consistent growth in the past weeks after its yearly low in late January, where it fell to $0.54. Since then, the coin has been rebuilding itself as one of the major players in the crypto space. This is thanks to, in large part, the developments with the SEC vs. Ripple suit where the blockchain currently has the upper hand.
The favorable news on the case where Judge Analisa Torres granted several motions in favor of Ripple reignited the interest for XRP. February is set to be a busy month for the blockchain. And if it sees a victory in the coming months, it will be the first cryptocurrency with regulatory clarity in the United States.
This development will likely push XRP over the $1.00 mark immediately after the decision goes public. Moreover, Ripple’s recent moves on expanding its ecosystem ensure its place on the market.
Ripple is currently partnered with several banks and financial institutions as it pursues its goal to become a reliable cross-border remittance currency. It also released its 2022 initiative, which will further expand its ecosystem. This proved to be an exciting prospect for its investors, and the crypto space is closely monitoring the digital token.
Regardless of how you look at it, Ripple is making waves in the crypto space. The developments in the lawsuit the SEC filed against the blockchain will be a precedent over the issue of whether or not cryptocurrencies are securities, while the XRP becoming a reliable payment method will further cement digital tokens as a viable currency in the real world.