Advertisement
AD

Main navigation

Advertisement

XRP Growth Goals Are Clear, Here's What Needs to Be Done

Advertisement
Thu, 7/09/2023 - 11:22
XRP Growth Goals Are Clear, Here's What Needs to Be Done
Cover image via www.freepik.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News

XRP is currently on a bearish slide to conform with the broader market trend after dropping by more than 1.2% in the past 24 hours to $0.4986. While XRP bears appear to be in charge at the moment, the digital currency is not losing sight of its core goal, which is to retest the psychologically important resistance level at $1.

Advertisement

Related

With this ambitious goal, there are a lot of factors that must be put in place to hit this historic milestone, all of which are embodied in how the legal battle between Ripple Labs Inc. and the United States Securities and Exchange Commission (SEC) pans out.

At the moment, the company appears to be in the lead after scoring a decisive victory when Judge Analisa Torres declared that the trading of XRP on secondary marketplaces does not constitute a security offering.

Advertisement

This verdict ushered in a whole new era of confidence on the part of the XRP community, who went on a massive accumulation spree, which helped push the price of the coin toward the $0.75 range. Though the coin has shed most of its accumulated gains after this XRP ruling, the resurgence recorded at the time has showcased how much of a sleeping giant the coin has been all these years.

Decisive XRP buy-ups

To return to its year-to-date (YTD) high above $0.75, XRP bulls need to show a decisive buy-up of the digital currency, irrespective of the current unfavorable market slump. With the digital currency now relisted by some of the biggest marketplaces in the United States and around the world, the challenge of available liquidity can no longer constitute a bottleneck.

Related

In all, the growth of XRP in the long term hinges on collective effort through boosts showcased by Ripple Labs and the evolution of the XRP Ledger (XRPL), respectively.

Related articles

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement
Advertisement

Recommended articles

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles

Advertisement
AD