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- The crypto industry looks to be receiving steam once more, as the majority of its assets are back again to trade in the green zone.
- For example, XRP has registered profits in more than one region – social activity and price growth.
Particularly, the social activity of XRP from three months is on the growth, listing 1.95 billion social engagements from 9,424 social contributors, according to data of September 29, 2022, by social intelligence platform for cryptocurrencies and NFTs, LunarCrush.
According to the tweet, these figures show a growth of 38% in social engagements as well as 8% in social contributors in the past three months.
Meanwhile, the value of XRP has listed vital growth also, increasing by almost 59% in the past three months till September 30, as per the data revealed by CoinMarketCap.
In the current situation, the value of XRP stands at $0.4926, which demonstrates a 12.84% growth on the day; however, yet a fall of 7.9% over the past week. The market capitalization now stands at $24.42 billion, taking XRP the sixth-largest crypto by this bar.
That reported that the crypto community present at CoinMarketCap is confident in the token’s close future, with votes approximating that the decentralized finance (DeFi) token will trade at $0.4166 by the end of October of this year, as reported by the media.
XRP involvement in the lawsuit.
At the same time, XRP is involved in a broadly promoted case the U.S. Securities and Exchange Commission (SEC) introduced against the issuer of the token, Ripple Labs, alleging it of illicitly selling the crypto that the regulator acknowledges security.
The defense team of the Ripple team presented a controversy that the XRP tokens cannot be securities as there were no “investment contracts” indulged in their issuance, which will give investors rights and pressurize the issuer to take measures in their interest.
A reason for the rise in the value of XRP may be the news of both sides asking for a summary judgment in the case, which will permit them to miss the trial period and permit the judge to make a ruling.
Basically, the court updates on this lawsuit had an important effect on the value of XRP, along with its volume, as per the data revealed by the Kaiko Research platform.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
