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- The sentiment around crypto asset seems relatively positive
- Currently XRP is trading at 0.35 USD
The broader crypto market currently seems to be under a dilemma, in a positive sense though. This is given the situation that cryptocurrencies are going through as some of them are rallying while others are still struggling to keep up the pace.
On-chain analytics provider Santiment shows that the crypto market is giving mixed signals regarding crypto assets. However, Ripple’s native token XRP appears to be within the category of cryptocurrencies enjoying the positive sentiment within the market. In terms of weighted sentiment, XRP is said to even beat Ethereum (ETH).
Notably XRP token had been through the situations where entities are likely to struggle a lot and give up at the end, but it sustained. The tussle with the United States Securities and Exchange Commission over considering the crypto asset as security or not continued for over two years now. Despite this, the XRP community did not crackdown or back off and stayed with the asset which is clearly visible in crypto asset’s performance.
Cross border payments solution Ripple facilitates the services using its native token XRP which was alleged by the SEC as unregistered security. The financial regulator went on to file a lawsuit against the company in 2020 and it has continued since then. However the community believes that the lawsuit is likely to see its end as early as the first half of this year.
In addition, the community is considering the case’s finale to witness an end with one of the three possible scenarios from court decision, settlement or summary judgment.
Although the sentiment around the crypto asset is positive, the performance of XRP still does not show any excitement. In the recent past, the trading price of Ripple’s native crypto asset is on decline, although the drop is not significant but gradual.
XRP is not showing much significant drop of surge and currently trading at over 0.35 USD with slightly over 3% surge in the last 24 hours. It is holding 6th position across the crypto market in terms of overall market capitalization with a market cap of over 17.7 billion USD.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
