According to a recent analysis by crypto YouTuber A Chain of Blocks, XRP — the cryptocurrency associated with Ripple — is outperforming other coins in combined social and market activity, according to data from Lunar Crush.
As a result, the price of XRP has surged, with social volume and engagements growing exponentially.
On March 28, XRP has increased by over 3% and almost 25% in the past two weeks. Ripple’s payment solution is praised for its efficiency, speed, and low cost, making it ideal for cross-border transactions. Over the last 24 hours, XRP gained a further 8.7%.
XRP moves higher
The ongoing case between Ripple and the securities and exchange commission (SEC) could potentially impact XRP’s future. A recent ruling by judge Michael Will in a separate case involving Binance’s acquisition of Voyager may bolster Ripple’s defense.
The judge stated that the SEC had provided limited guidance to market participants.
Crypto analyst John Deaton has argued that XRP has the most attractive risk-reward ratio. He suggests that if the SEC wins, Ripple may appeal. However, if Ripple wins and XRP is deemed not a security, its upside could be significant.
A controversial proposal from Jimmy Valli, creator of the XRP buyback program, involves collateralizing a new bank using XRP tokens. However, ex-Ripple developer Matt Hamilton has pointed out that the price of XRP, like any other cryptocurrency, is determined by market forces, not arbitrary decisions.
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Author: Adrian Zmudzinski
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