XRP has been sideways for three years, but it has skyrocketed 7 times in three months, telling the world that a large market value can also go up! Old investors should be familiar with XRP, the old sickle, right? Back then, Justin Sun was the head of Ripple in Greater China. He would come to reap the profits every four years.
Those who are new to the cryptocurrency world may not know what XRP is and why it has risen so sharply. In fact, XRP is a native digital asset on the XRP ledger created in 2012, and was created for payment from the beginning. Its settlement time is super fast, only 3-5 seconds, while at that time, international transfers using SWIFT took 3-5 working days. Therefore, XRP is the first project to be implemented in the cryptocurrency industry, which is quite advanced.
And XRP is backed by a bunch of giants, such as the Japanese financial consortium SBI, the British market maker B2C2, the Thai royal family, the Australian remittance company HAI HA, and the cross-border payment Tranglo, etc. It has been deployed in the global banking industry for many years, and its application scenarios in the real world are cross-border payments and inter-bank transactions.
Back then, XRP’s market value was as high as 238 billion US dollars, surpassing Bitcoin and becoming the top cryptocurrency! At that time, it was the king. Unfortunately, it was investigated by the SEC and suffered a lot. But after so many years, XRP’s market value is still firmly in the top ten. Although it has no ecosystem, it still plays a role in the banking system. After all, enterprise-level system stability is king.
There are several reasons for this surge: first, it is the wind blowing from North America. Howard, the Secretary of Commerce during the Trump era, and members of the SEC are all supporters of cryptocurrencies. They advocate the priority of the US dollar, especially stablecoins and global payments denominated in US dollars. Secondly, with the support of financial backers, XRP has become more and more permeable in the global banking industry and foreign trade settlement. Existing currencies cannot do this, but only XRP can!
Let's talk about the SEC investigation, which has now come to an end. The SEC has approved the spot ETFs of Bitcoin and Ethereum. In the latest application documents, SOL and XRP are also on the way. As a stable currency, XRP has a great chance of being approved. There are also those traditional "old money" who also want to get a piece of the pie in the crypto world. They are more conservative, so they will look for targets with sufficient depth to invest. And XRP is their target.
In general, XRP is a strong stock with strong backing, compliance and 2B, and it is unreasonable to pull it up! Now its market value has exceeded 140 billion US dollars. Although it can no longer sit on the throne it once was, it is still possible to step on Ethereum.