XRP has been sideways for three whole years, only to surge seven times within three months, basically telling the world that a large market value can also soar! Old investors should be familiar with this old harvesting tool, XRP, right? Back in the day, Sun Yuchen was the head of Ripple in Greater China, and every four years he would come to harvest a wave, which was quite ruthless.
Newcomers to the crypto world may not be very clear about what XRP is and why it can rise so sharply. In fact, XRP is the native digital asset of the XRP ledger created in 2012, originally born for the purpose of payment. Its settlement time is super fast, only taking 3-5 seconds, while at that time international transfers using SWIFT took 3-5 business days. Therefore, XRP can be considered the first project to land in the cryptocurrency industry, quite ahead of its time.
Moreover, XRP is backed by a bunch of giants, such as the Japanese financial group SBI, the UK market maker B2C2, the Thai royal family, the Australian remittance company HAI HA, and the cross-border payment company Tranglo, among others. It has been laying out in the global banking industry for many years, and the real-world application scenarios are cross-border payments and interbank transactions.
Back in the day, XRP's market value reached as high as 238 billion US dollars, leaving Bitcoin far behind, sitting at the top of the cryptocurrency throne! At that time, it could be said to be an invincible king. Unfortunately, it was later investigated by the SEC, which led to some troubles. But after all these years, XRP's market value still remains firmly in the top ten. Although it doesn't have much of an ecosystem, it still plays a role in the banking system. After all, stability is key for enterprise-level systems.
This wave of increase has several reasons: first, it is the wind blowing from North America, where Howard, the Secretary of Commerce during the Trump era, and members of the SEC are supporters of cryptocurrency. They advocate for a dollar-first approach, especially for stablecoins pegged to the dollar and global payments. Secondly, with the support of major investors, XRP's penetration in global banking and foreign trade settlement is becoming stronger and stronger. Existing cryptocurrencies cannot do this, but only XRP can!
Now let's talk about the SEC investigation, which has now come to a conclusion. The SEC has approved spot ETFs for Bitcoin and Ethereum, and in the latest submitted application documents, SOL and XRP are also on the way. As a stablecoin, the possibility of XRP being approved is quite high. Those traditional 'old money' investors also want a share in the crypto world. They are relatively conservative, so they will look for targets with sufficient depth to invest in. XRP has caught their eye.
In general, XRP, as a strong stock with compliance and B2B characteristics, is not going to be reasonable when it rises! Its market value has now surpassed 140 billion US dollars, and although it cannot sit on the throne it once had, it is still possible to surpass Ethereum.