Huge increases were also made by other well-known cryptocurrencies including Ripple. XRP has been moving consistently in the bullish direction, which has excited both investors and enthusiasts.
Like other cryptocurrencies, Ripple had a huge increase at the start of 2023, helping the price regain the loss it had suffered in 2022 blood bath.
At the time of this writing, Ripple’s token XRP worth $0.4132, reflecting an increase of 3.24% over the course of the last 24 hours.
Relist XRP on Coinbase Trends
After the most recent hearing of the LBRY v. SEC lawsuit on January 30, the Ripple v. SEC lawsuit news has grown more intriguing. The Judge made it abundantly apparent during the hearing that digital assets traded on secondary markets are not securities. The verdict has caused feelings surrounding the Ripple v. SEC case to intensify in the hope that a similar verdict will be rendered soon.
- After the LBRY hearing, the demand to relist XRP on Coinbase and other US-based exchanges has been on the trend in twitter
- XRP price is gaining significant boost as the market rises with the rising demand
It should be highlighted that Coinbase did not chose to delist XRP on its own; rather, it did so out of concern for the SEC. It’s time for the platform to take a position now that Coinbase shareholders and investors are entitled to trade XRP. Additionally, the latest Flare token airdrop is not available to US dealers.
Furthermore, now that LBRY and XRP are not considered securities, there is a strong push to relist the XRP token.
XRP Trying to Reach $1?
XRP is a cryptocurrency that launched in 2012. It serves its payment network, Ripple Net, and native asset. At launch, 100 B XRP tokens were pre-mined and distributed to individuals and companies. The XRP market has maintained its ranking among the top ten cryptocurrencies despite ongoing legal issues with the US Securities and Exchange Commission (SEC). Ripple has heavily invested in the best legal staff in order to defeat the SEC in XRP law suit.
- Market analysts believe that XRP is gearing up for a significant breakout as the SEC case nears its conclusion. Investors are hopeful that a verdict in favor of Ripple would have an immediate, massive bullish effect on the price of XRP.
- Despite the surging market outlook, The token is also currently receiving remarkable interest from whales, as seen by the fact that they keep buying hundreds of millions of it.
- The market capitalization of XRP as of right now is $19.8 billion, a rise of about $2.7 billion over the market cap on January 1 ($17.1 billion at the start of the year).
- Ripple XRP token is 6th best token from top in coinmarketcap.
- XRP has seen tremendous growth even in 2022 bearish market, thanks to intense speculation and financial institutions’ adoption of Ripple’s ODL technology.
Will Ripple triumph over the SEC in court?
A well-known bitcoin analyst named John Deaton has taken to Twitter to share his predictions for the year 2023. He says – If Ripple’s SEC complaint is dismissed and XRP is classified as a security, the SEC may decide to launch an enforcement initiative to control the cryptocurrency. The XRP community anticipates a favorable ruling from Judge Torres.
Also analyst Matt Hamilton who was once the director of developer relations at Ripple, rubbishes the circulating new that possibility of the government seizing and purchasing the Ripple-issued XRP tokens that are already on the market and utilizing them for its own purposes, preventing the technology from being used anyplace else.
By the end of 2023, if the series of events occur as predicted. Then the possibility of the Ripple price prediction hitting a new milestone is high. Moreover, the price could form new maximum value and range towards its annual closing target of $1.1043 as per coinpedia.
Ripple’s CEO previously indicated the company will migrate to a crypto-friendlier nation should the SEC win.
