Ripple's XRP on the verge of a new upswing? $XRP (+0.12%)
Ripple's cryptocurrency XRP has been among the top ten by market capitalization since 2013. Once in second place behind Ether, it is currently in 7th place, but XRP's performance has been weak recently.
One of the main reasons for this is the long-standing legal dispute with the US SEC. Since the end of 2020, the lawsuit over the sale of unregistered securities has impacted price performance.
A token unlock was carried out on July 1, bringing one billion new tokens onto the market. Of the total of 100 billion XRP, around 55.7 billion are currently in circulation.
Some experts expect the legal dispute to be resolved soon. As a compromise, Ripple has proposed a fine of up to three billion dollars.
Institutional investors and ETFs are still waiting, but Ripple President Monica Long emphasizes that XRP is well positioned due to its longevity and high trading volume.
BeInCrypto reports that the lawsuit could potentially end in July, which would be a positive development for XRP. According to Crypto Magazine such a decision could raise the price of XRP to 1 US dollar.
Sources:
- https://www.krypto-magazin.de/xrp-kursprognose-wird-der-ripple-sec-kampf-den-preis-im-juli-auf-1-treiben/
- https://de.beincrypto.com/ripple-fall-koennte-im-juli-enden/
- Börse Online Magazine
