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Experts from the analytics platform Santiment have observed that Ripple’s native token, XRP, has been experiencing positive dynamics in both its value and network indicators. The asset’s growth rate surpassed other altcoins within a day, adding 6% and reaching $0.5687, on average. Do you know anything else? With more and more wallets having a balance of 1 million XRP or more, the rate of growth is becoming apparent. With a 3.1% increase over the previous six weeks, the indicator is now at 2013 units, close to its all-time high. June 17th, 2014 was the record-setting day for 2014 large XRP addresses.
With a market cap of more than $30.2 billion, XRP is the seventh most valuable cryptocurrency. With a weekly gain of 10.9%, the rate had corrected to $0.5487 when the news was being written.
In light of recent developments in Ripple Labs’ trial before the US Securities and Exchange Commission (SEC) over the asset’s status, the price increase of XRP has been noticeable.
The previous day, Ripple challenged the government’s demand that it pay $2 billion in fines for selling XRP to institutional investors, a practice that broke securities laws but made the firm billions.
Stuart Alderoti, an attorney for Ripple, pointed out that the company didn’t face fraud charges and came out on top in key areas. In light of these circumstances, he claims that the SEC’s demand for a fine “is evidence of the ongoing intimidation of the crypto industry in the United States.”
The first sales of XRP were subject to lengthy proceedings that began at the tail end of 2020 over potential securities law violations. Although selling assets to individual investors through digital exchanges was upheld by the court last year, sales made directly to institutions were deemed securities transactions.

There is a near-record number of wallets with XRP balances exceeding 1 million.

Blocksays

Alte articole publicate pe 23 apr. 2024

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