Crypto analytic records showed that the majority of the whales & institutional investors now again feeling confident to invest in XRP coin.
Ripple is a San Francisco headquartered fintech company that provides global payment services with the help of XRP coin. XRP coin runs on the XRP ledger (XRPL). Between Dec 2020 to July 2023, Ripple firm & its executives struggled badly because of a lawsuit, filed by the United States Securities Exchange Commission (SEC) over Ripple’s business model with the XRP coin.
In the present time, Ripple is out of any big legal hurdle and also the majority of the crypto investors are considering XRP coin as a safe crypto asset to invest money in, as already the court judge stated that XRP coin is a non-security token.
After Ripple’s victory in the XRP lawsuit, the XRP coin saw a significant & steady attraction among institutional investors.
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As per a weekly report on the digital asset fund flows by CoinShares, XRP saw $0.5 million in inflows last week.
In 2021 & 2022, many big crypto investors openly said that they were not confident to invest their money in XRP coin because of the backend company’s legal conflict with the American securities regulatory body.
XRP price
Since the beginning of this year, the speculations on the potential victory of Ripple in the XRP lawsuit started and also happened the same.
Since the beginning of this year, the trade price of XRP coin surged by nearly 127%.
The current trade price of XRP coin is $0.59 & this trade price is 5.5% down over the last 24 hours’ trade price.
However, in the present time, Ripple is out of the big legal stress but the US SEC confirmed that it will again bring the suit against Ripple.
Through a letter to the XRP lawsuit court judge Torres, the SEC lawyers said that they will appeal against the court ruling.
As per available information from the legal experts, the first trial of the XRP lawsuit will take place somewhere in the first quarter of the next year.
Read also: SEI token secures 3,100% rally following multiple listing support
Institutional investors are now again filling bags with Ripple (XRP)
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https://bitcoinik.com/institutional-investors-are-now-again-filling-bags-with-ripple-xrp/feed/
