Throughout 2023, Ripple, the crypto company behind XRP, has maintained one of the most remarkable growth rates in the crypto ecosystem. The question now arises as to whether in 2024, Ripple could continue to be talked about in terms of performance and adoption. This remains possible under certain conditions.
Crypto company Ripple is at a pivotal moment in its history
After a particularly eventful year in 2023, the crypto company Ripple is at a delicate moment in its journey. The year 2024 could be when the company sees its adoption expand significantly.
This is only possible under certain conditions. The first is the acceleration of institutional adoption of its native crypto, XRP. An option that Ripple intends to promote by reducing transactional costs to streamline cross-border settlements.
Second, Ripple’s expansion seems closely linked to the transformation of the financial sector’s position towards cryptos. This is also what Adrien Treccani, the senior vice president in charge of products, anticipates for Ripple in 2024.
Finally, the third condition concerns regulation. Stuart Alderoty, Ripple’s legal director, expects the legal disputes with the SEC to be resolved this year. Which would lead to epic debacles for the SEC in major legal battles against the crypto industry, making Ripple’s trajectory in 2024 even more significant.
The situation could change for Ripple’s XRP crypto
If the changes mentioned above materialize in 2024, it is Ripple’s XRP which would benefit first and foremost. The asset lost the 5e place of the most dynamic cryptos in the ecosystem which it occupied for the benefit of Solana.
This seems to be a real challenge. As a reminder, Ripple’s native crypto closed the year 2023 at a valuation of $0.62. This, after a peak of $0.82 in July, following the favorable court decision of Judge Analisa Torres. All for an increase of 65% since January 2023.
This performance is rather timid when compared to the 1000% increase in Solana and the 160% increase in bitcoin (BTC) over the same period. The least we can say is that Ripple’s native crypto is currently lagging behind.
We notice this in its current trends. Sixth in the top 10 best-performing cryptos in the industry behind Solana, Ripple’s XRP is currently trading around $0.56. Its price fell just over 9% over the past week.
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