XRP Coin: Latest High-Level Trending News Today
In recent days, several key developments regarding the XRP coin have come to light, influencing its market trends and future prospects. Here is an overview of the latest news and analysis:
Legal Battle with the SEC Concludes:
The most significant news is the official end of the nearly five-year-long legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC). Both parties have withdrawn their appeals. This decision is being hailed as a major victory within the crypto community and has removed a cloud of uncertainty that hung over XRP. Following this news, XRP's price saw an immediate 10% increase, reflecting a positive response from investors.
Bullish Market Momentum:
With the legal issue resolved, XRP has gained significant bullish momentum. It is currently trading near $3.26, and according to analysts, its price could break its previous all-time high of $3.66. Another reason for this bullish sentiment is the lower-than-expected inflation data from the U.S., which has created positive market sentiment.
Stablecoins on the XRP Ledger:
The market cap of stablecoins on the XRP Ledger has seen a 46% increase over the past week, reaching $166 million. Ripple USD (RLUSD) is the largest stablecoin on this protocol, holding a 52% market share. This indicates growing interest in the XRPL, which could provide further support to XRP's price.
Potential Future Price Targets:
According to various analysts' predictions, the price of XRP could see a further increase now that legal hurdles have been removed. Some analysts suggest it could reach up to $9.63, while others predict it could even hit $10 to $20 by the end of 2025. However, these are just estimates and are dependent on the volatility of the crypto market.