In recent weeks, all eyes have been on Ripple (XRP). In the ecosystem, most investors expect an imminent explosion in the price of crypto. For good reason, the turn that the ongoing trial between Ripple and the SEC is taking. Indeed, while discussions continue between the two parties, the XRP market is becoming active. XRP activity has just reached a record not seen since August. Details here.
Record XRP transactions: a highly anticipated crypto-rally
As crypto expert John Deaton indicated, in crypto investing, anticipation is the key to success. And this anticipation is currently felt very strongly on the XRP market.
Indeed, transactional activity on the XRP market, which has experienced impressive growth since mid-August, has just reached a record. According to the data of XRPscan, the number of crypto transactions carried out on the Ripple market has just reached 1.38 million. This is a first since mid-August 2023.
Remember that the company and the regulator met behind closed doors on November 30, 2023 to agree on their opinions. The meeting really fueled hope, even if new hearings are planned for 2024.
In the meantime, XRP holders strongly believe that Ripple will win the case, which should result in an explosion in the price of the crypto. If its price has remained below $0.64 since the beginning of December, several analysts have confirmed the theory of an upcoming increase.
XRP vs SEC: More than a trial, the creation of pro-crypto jurisprudence
So far, XRP has maintained its upward trend. According to the analyses, it is possible that the crypto will once again reach the $0.75 mark that it reached on November 13. Currently, its course has already achieved 83% of this objective. While the expected rally may face resistance, XRP’s strong transactional activity supports the theory of an imminent explosion.
And if these predictions come true, Ripple would reap two major benefits from this long trial. On the one hand, a rally and an increase in the price of its native crypto and on the other hand, a notable regulatory advance for the ecosystem.
Indeed, according to the CEO of Ripple, if the SEC had not suffered a failure against Ripple, it would have continued its crusade of aggression against several other crypto projects. So, if the crypto company ultimately wins the lawsuit, this case will also constitute pro-crypto case law that the unregulated crypto ecosystem can rely on in the future.
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