• This article discusses the current state of XRP and how it is flourishing despite the ongoing SEC vs Ripple lawsuit.
• On-chain analysis and social volumes data reveals a rapid increase in XRP holders and an overall surge in interest for the digital asset.
• The outcome of this case could have far reaching implications for the altcoin industry and its potential for growth.
XRP Market Performance
The XRP market has seen a fully diluted valuation (FDV) of around $50 billion, with a traded volume of approximately $1.58 billion in the last 24 hours. On-chain analysis by Coinmetrics reveals a rapid increase in the number of XRP addresses holding more than $10k, close to an all-time high (ATH). Santiment data also highlights a remarkable surge in XRP social volumes, reaching the highest level in over a year with address activity seeing significant spikes recently.
SEC vs Ripple Lawsuit
The SEC vs Ripple lawsuit began in 2020 when the SEC charged Ripple with conducting an unregistered security offering for their token, XRP. This case is considered one of the most significant cases in Web3 industry as its outcome will likely influence regulatory frameworks going forward.
XRPL Revenue Increase
Messari reports that since March there has been a substantial increase in XRPL revenue which parallels with a 34 percent rise in XRP’s underlying value. This further demonstrates investors confidence as well as future potential growth for this digital asset.
The outcome of this lawsuit could have wider implications on other altcoins within Ethereum network as well as providing clarity on regulatory frameworks going forward.
With its growing popularity among both individual and institutional investors, it appears that despite the ongoing legal battle between Ripple and SEC, XRP continues to thrive globally making it one of top performing digital assets at present time