Ripple (XRP) has turned into one of the biggest gainers during the past seven days in the top hundred tokens as it amassed good gains during the weekly as well as daily timeframes. XRP token has surged upwards by nearly 30% during the week while the daily price movements show an increase of 15%. The token had previously broken down into a consolidatory period after a strong uptrend during January. It now appears that the consolidation may end up in an upside break. At the time of writing, the cryptocurrency stands at a price level of $0.76. The daily trading volume has also surged upwards by more than 120%. Ripple is currently the eighth largest token in the market.
Ripple: Recent Developments
SCB – one of Thailand leading commercial banks – has joined RippleNet to create an innovative and instantaneous cross-border remittance transfer platform. XRP’s network has also partnered up with Coinone to launch South Korea’s leading global payment ecosystem powered by blockchain technology. These are just a few of the many case studies that the network has and is a testament to the utility of the network. This makes Ripple one of the most realistic and practical cryptocurrencies.
There has been a recent update in the Ripple v. SEC lawsuit which has been fueling the uptrend of the token. Ripple was badly hit when the SEC announced a lawsuit against the platform but recently, the presiding judge has ruled to disclose emails between XRP’s executives. While what the SEC makes of the confidential document is yet to be seen, one thing is definitely the legal case is approaching an end. Not assuming the worst-case scenario of Ripple losing the case, when the lawsuit comes to an end XRP is expected to cross $1 if not more.
Is $3 possible for XRP?
According to the estimates of Wallet Investor, the cryptocurrency is expected to cross $1 in a year’s time while the token is expected to be trading above $3 in five years’ time. Digital Coin Price has similar predictions for Ripple and suggests the token will be over $1 by the end of the year and reach $3 by 2028. The current developments and the bullish outlook suggests towards XRP realizing its bullish projections – although nothing is ever certain in the crypto market.
