XRP, Ripple’s native token, has attracted the attention of the cryptocurrency space because of its potential uses. Ripple expanded its payment settlement, cross-border remittance, and asset exchange ecosystem in the last months as it readies its position in the real-world market.
Despite the XRP’s value moving in line with all the major cryptos in the market, its investors also have external factors to look out for when predicting the coin’s price. With the recent developments with the Ripple vs. SEC lawsuit, the focus is now on whether XRP will surpass the $1 mark. If this happens, the support for the token could push the price further, and its gains are seen as inevitable.
XRP currently has a market capitalization of $39.8 billion, ranking as the sixth-largest token in the market. Despite the asset hitting a yearly low at the turn of 2022 when it fell to $0.56, it has since recovered. Last Sunday, it was even poised to surpass the $1 mark before settling back down to $0.85 due to usual selling pressure.
This recovery happened due to the recent developments with the lawsuit the United States Securities and Exchange Commission filed where Ripple found more solid ground for their victory. On February 9, 2022, the blockchain noted that their filling would tackle the SEC’s ‘inappropriate’ move to conclude the case prematurely.
February seems to be packed for Ripple, with both sides required to reply ahead of the expert discovery set in February 2018. Regardless, Ripple CEO Brad Garlinghouse confirmed that 2021 was the ‘strongest year ever’ for XRP. And currently, the sentiments for XRP show that the digital token has pushed aside the implications of the lawsuit.
If conditions persist, the bullish momentum for XRP price, along with the promising developments it made in its payment ecosystem, the asset has the potential to surpass the $1 mark within the year. And, with Ripple’s initiatives for 2022, all eyes are on XRP.