XRP: One of the Largest Crypto Assets Around Now

XRP: Expectations High Amid the Ripple Labs’ Case

XRP Reclaims Its Spot As World’s Third Largest Crypto

XRP has risen by 71% within a week to reach $2.47 and by 367% over the last 30 days, political changes being the major driving force.

XRP’s Growth

XRP is the native token of XRP Ledger and a part of the Ripple platform. Now reached the third spot, XRP has successfully beaten Tether’s stablecoin. Used within Ripple’s payments system, the cryptocurrency flipped Solana to gain the fourth spot last Sunday.

Ripple Labs’ Case with SEC

Ripple Labs was sued in 2020 by the US Securities and Exchange Commission. The case fueled with SEC chairman Gary Gensler’s departure news and is of primary interest for investors. Gensler’s approach to crypto regulation was ridiculed and his departure has encouraged a friendlier one for the industry.

SEC’s lawsuit against Ripple Labs for securities violations was initiated under then chairman Jay Clayton. After being appointed the new SEC chairman, Gary Gensler continued pursuing the case.

Expectations from XRP High

Despite the ongoing matters, XRP is soaring, bolstering investor optimism. It is still expected to shift to a better world ranking. XRP is even expected to gain traction for financial apps like spot exchange-traded funds.

XRP Further Surges with ETF Talks 

Industry experts are looking forward to the approval of a spot XRP ETF. ETF applications have already been filed by Canary, Bitwise and 21Shares, while Jeremy Hogan, pro-XRP lawyer, expects regulatory approval by mid-2025.   

Conclusion

Though below its all-time high of $3.40 in 2018, XRP is closest to that level than it’s ever been in the last seven years. Meanwhile other cryptos such as ADA, SHIB and XLM are also pushing higher, especially post a dip in Bitcoin’s price, the leading digital asset.