XRP (Ripple) has been sideways for three years, and it has soared 7 times in three months. It has demonstrated that it can soar even with a large market value. How powerful! Old investors should be familiar with XRP, the old sickle. Sun Yuchen was the chief representative of Ripple in Greater China at that time. It is a four-year cycle, and it is so powerful! New investors probably don’t know what XRP is and why it is rising now!
XRP is a native digital asset on the XRP Ledger (XRPL) blockchain created in 2012. Originally built for payments, XRP mainly facilitates transactions on the network, with a settlement time of 3-5 seconds. In an era when international transfers use SWIFT, which takes 3-5 working days, building an electronic cash system was the first project to be implemented in the cryptocurrency industry. It was very advanced!
It is supported by Japanese financial consortium SBI, British market maker B2C2, Thai royal family, Australian remittance company HAI HA, cross-border payment Tranglo, etc. It has been in the global banking industry for many years, and its real-world application scenarios are cross-border payments and inter-bank transactions.
In 2017, XRP’s market value was 238 billion USD, surpassing Bitcoin (market value 214 billion USD) and becoming the top cryptocurrency! It can be said to be the king of all trades!
What happened later was that it was crippled by the SEC investigation. After so many years, XRP's market value ranking is still in the top ten. Although it has no ecosystem, XRP is still used in the banking system. Enterprise-level systems require stability!
Looking back, this wave of growth was caused by several factors:
The first and biggest factor comes from the North American trend. After Trump was elected, Secretary of Commerce Howard and members of the SEC are all supporters of cryptocurrencies, advocating the priority of the US dollar, especially stablecoins and global payments denominated in US dollars;
Secondly, with the support of financial consortiums, XRP has penetrated the global banking industry and foreign trade settlement. The top-level business of RWA (connection and settlement with banks) cannot be done by any existing currency, only XRP can do it.
The third is that the investigation by the SEC has come to an end. Currently, the SEC has approved two spot ETFs, Bitcoin and Ethereum. In the latest application documents, SOL and XRP are also on the way. As a stable currency, XRP is very likely to be approved!
Fourth, old money also wants to get a piece of the pie in the crypto world. Based on their conservative nature, they will look for targets that can carry enough depth. This is why XRP should not be listed on CX.
In general, XRP, which is rich and willful, compliant and 2B, is a strong dealer who is unreasonable! Now the market value of XRP has exceeded 140 billion US dollars, ranking third. It should be out of reach of the throne, but it is still possible to step on the weak Ethereum.
