2023-08-19
XRP
price went from $0.4754 to $0.82 (+72.48%) following Ripple secured partial victory on SEC vs. Ripple Labs, Inc. lawsuit. U.S. judge ruled on July 13, 2023 that Ripple Labs, Inc. did not violate
federal securities law by selling its XRP token on public exchanges.
Judge ruled that Ripple violated securities law when it sold XRP to
institutional investors.
On
August 19, 2023 Ripple price was $0.5187. The market seemed to lack interest in XRP, that's why XRP could not
maintain the price of $0.8.
Another
problem is XRP’s valuation is too high. Currently, XRP has a fully diluted
market cap of $51.859 billion. Whereas, ETH has a fully diluted market cap of
$202.2 billion. ETH has 4 times higher valuation than XRP. High valuation makes
it hard for the price to go up.
XRP has
returned to list on many crypto exchanges such as Coinbase and Binance which is
good news for XRP.
