XRP's price is likely not directly tied to its market capitalization due to several factors:
Ongoing SEC lawsuit.
The ongoing legal battle between Ripple and the SEC regarding whether XRP is a security has cast uncertainty over the cryptocurrency's future.
Limited exchange listings.
Due to the SEC lawsuit, some cryptocurrency exchanges have delisted XRP, limiting its availability to buyers.
Overall crypto market sentiment.
The broader cryptocurrency market sentiment can also impact XRP's price. If investors are bearish on cryptocurrencies in general, XRP may not see significant price gains even if its own fundamentals improve.
Recent developments, however, may be positive for XRP. A recent court ruling in Ripple's favor has caused a surge in XRP's price and market capitalization. If the SEC lawsuit is ultimately resolved in Ripple's favor, it could lead to wider adoption of XRP and a sustained price increase.
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