Skip to main content

Is XRP unstoppable after a possible acquittal?

 


What is XRP?

The XRP is the token of the payment network Ripple. Ripple is an international payment network based on the blockchain. It aims to make international payment transactions more cost-effective and efficient. The main aim is to make payment transactions between different payment areas easier. 


The network token within Ripple is the XRP. The Ripple network is not completely decentralized, as the company Ripple Labs holds the majority of the XRP tokens. In recent years, Ripple has become a network that many banks and financial companies use to optimize their payment transactions.


How has the XRP price moved in recent months?

In the last bull market, the XRP token could not reach the prices that the XRP token reached in the previous bull market in 2017. In 2021, the XRP price peaked strongly in spring and then again in September and November. At the beginning of November, the token was still trading at over $1.28. Then the bear market set in.

In the following months, the XRP price fell sharply due to the onset of the bear market. At the turn of the year, the rate was only $0.86. In June, the XRP price then fell to a value of 0.30 dollars. In the weeks that followed, the price of the token recovered slightly. 


How has the price moved in recent weeks?

In the last few weeks, the price of the token has increased slightly again. But this increase was much lower than, for example, the increase in the Ethereum token. We have discussed the reasons for the price explosion in Ethereum in this article . But even compared to other cryptocurrencies, the increase in XRP was not that big.


Nevertheless, among the most valuable cryptocurrencies at the moment, XRP is still stable in the top 10 by market capitalization (6th place). However, we must note that the token was partly number 2 behind Bitcoin in the last bull market in 2017. Still, XRP is holding up well in the current bear market. 


Can Ripple benefit from the resolution of the legal dispute?

At the moment, the long-lasting legal dispute with the American stock exchange supervisory authority SEC is still over the Ripple project and thus also over the XRP token. You can learn more about the process in this article . The litigation has severely held back the token’s potential over the past few years and has prevented XRP from reaching higher prices.


At the moment, most signs point to Ripple winning the litigation or a good settlement in Ripple’s favor with the SEC. Until this agreement is reached, the token remains a sleeping giant. 


Litigation SEC

The solution to the legal dispute has been dragging on for months now, as these legal processes are always dragging on despite an increasingly clear situation for Ripple. But should the solution officially come, which is very likely in 2022, then XRP could actually see a massive price increase. The current bullish situation in the market should help the price to rise massively.


Is it worth investing in the token now?

An investment in the XRP token is now worthwhile for the future. The potential of the payment network Ripple and thus the price potential of its token is huge for the medium and long term. After the legal battle comes to an end, the price should rise massively.


Even if the bear market continues for a few more months or even 1-2 years, the XRP should see strong gains again for the next bull market. Until then, you should use the low price to buy the token cheaply in large quantities.

My Top Picks
Honeygain - Passive earner that pays in BTC or PayPal
MandalaExchange -The Best no KYC crypto Exchange! 
BetFury - Play And Earn BFG for daily Bitcoin and ETH dividends!
Pipeflare - Faucet that pays in ZCash and Matic, Games pay in DAI
Womplay - Mobile dApp gaming platform that rewards in EOS and Bitcoin
Cointiply - The #1 Crypto Earning Site
Torum - Join the latest Social Network and earn TRM for Free! 
LiteCoinPay - The #1 FaucetPay earner for Litecoin 
LBRY/Odysee - YouTube Alternative that lets you earn Money by viewing videos!
FaucetPay - The #1 Microwallet Platform
FREEBTC - The #1 FaucetPay earner for Satoshi's
FaucetCrypto - An earning/faucet site that pays out instantly
FireFaucet - An earning site that pays better for some than Cointiply
DogeFaucet - Dogecoin Faucet
xFaucet - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BCH, BNB, ZEC, FEY - Claim every 5 minutes
Konstantinova - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BNB, ZEC, USDT, FEY, 25 Claims Daily

Comments

Popular posts from this blog

From offchain to offchain: Statechains meets Lightning

  Without a doubt, the most significant off-chain Bitcoin solution is the Lightning network. But in its wake, the statechain has emerged as an intriguing replacement. There is currently a proposal to link the two offchain networks. From an ocean, for example, you can see sunbeams glistening in the water, waves rippling, and possibly a jellyfish drifting toward the light. But you only see a small portion of it. The distance from the sea's surface to its bottom is hundreds of meters. It has dozens of different fish species swimming in it, crabs and starfish crawling on the bottom, shells clinging to rocks, and sea plants climbing up. A completely new world starts where your gaze diverges. You can picture a blockchain like Bitcoin, just like the sea. What you see on the outside is only a small portion of what is actually there; the set of UTXOs (coins) and transaction history that full nodes store are just the beginning of a much larger world. It's the plan, at least. With Bitcoin...

Phishing attack on popular crypto sites tries to empty wallets

  Several major crypto sites such as Etherscan, CoinGecko, DeFi Pulse, and others report malicious pop-ups scammers use to try to trick users into connecting their MetaMask wallets. The phishing attack came from a domain displaying the Bored Ape Yacht Club (BAYC) logo. "We are investigating the root cause of this attack to fix the threat as soon as possible," CoinGecko founder Bobby Ong tweeted. The phishing attack appears to have been triggered by a malicious ad script from Coinzilla, a crypto ad network, according to CoinGecko. Etherscan also advises its users not to confirm any transactions that may appear on the website. The attackers attempted to use the hype around the “bored monkeys” non-fungible tokens (NFT) to gain access to the cryptocurrencies of unsuspecting website visitors. Although the websites affected by the scam attempt have reacted in the last few hours and deactivated the advertising pop-up, it is still recommended not to connect your MetaMask wallet to ne...

Bored Ape Yacht Club NFTs stolen through phishing on Instagram

  Bored Ape Yacht Club ( BAYC ) developers announced on Monday that hackers have hijacked the official Instagram page of the popular NFT collection and posted links to a fake airdrop. Crypto enthusiasts who connected their MetaMask wallet to the rogue website subsequently had their Ape NFTs stolen. Apparently, the attack was planned to coincide with the one-year anniversary of the BAYC collection. This increased the "perceived credibility" of the phishing link. About 100 NFTs are said to have been stolen in the phishing attack . According to CoinGecko data , the minimum price for a BAYC NFT is 139 Ether ( ETH ) or $400,726. So if reports are correct, over $40 million worth of NFTs were stolen in the attack. These numbers are only the lowest estimate, however, as they are based on the lowest price.  At the time of writing, it was still unclear how the hackers gained access to BAYC's official Instagram account. Social media users have pointed out the importance of two-fact...