The crypto market has begun to surge again following its months-long dip, and now many cryptos are going to the moon. Ripple’s XRP is now on the way to enter one of the top-most cryptocurrencies in the world.
As of now, XRP is on a 24-hour increase of 12.7%. This time, XRP is competing with Cardano and Solana to gain a market gap of $41.15 billion. Cardano (ADA) is currently the seventh-largest cryptocurrency with a $39.88 billion market cap and Solana (SOL) takes the position right behind ADA to gain a market cap of $35.98 billion
XRP now trades at $0.91 with a bullish performance and is on its way to be one of the crypto world’s top five.
XRP/USDT 1-day chart (source: TradingView)
In the past two weeks, XRP indicated a consolidated value, which then disappeared as it followed an upward trend from February 4 onwards. As of yesterday, XRP opened at a value of $0.6 and experienced a surge of 28%, making it count among the top ten cryptocurrencies.
Meanwhile, the Ripple vs SEC case of 2020 puts Ripple Lab under an ‘unregistered security’ claim by US Securities and Exchanges Commission (SEC). The commission points out that the blockchain platform is not decentralized.
In response to this statement, Ripple had said that the SEC is classifying them due to its bias rather than the actual rules. Also, Ripple claims its platform is not different from other similar platforms. At present, the case is progressing and market analysts believe it will come to an end by April 2022. If any pleasing XRP news in the case uproots, the market would definitely creep upward, expecting a gain of $1.0.