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 responsible for any financial losses incurred while trading cryptocurrencies. Do your own research by contacting financial experts before making any investment decisions. We believe all content to be accurate as of the date of publication, but some offers mentioned may no longer be available.
Affiliated with Ripple XRP The cryptocurrency has just reached new highs on several spot cryptocurrency exchanges.
It took seven years for the controversial token to finally surpass the seemingly unbeatable all-time high that was set at the height of the cryptocurrency craze in early 2018. At the time, CNBC Notorious Streamed a one-click live tutorial on how to “buy Ripple” on the Poloniex exchange.
XRP went on to experience a very brutal 91% correction in 2018.
It then came close to dropping out of CoinMarketCap's top 10 list in late 2020 after the SEC filed a lawsuit against Ripple.
However, XRP ended up victorious, as the court decided that secondary sales of the token did not constitute offers of securities.
Related to
Earlier Thursday, the token rose to an all-time high of $3.38 on the Kraken exchange.
The value of XRP has now risen more than 30% over the past four days alone, significantly outperforming other major cryptocurrencies.
The third largest cryptocurrency rose more than 6% in the past 24 hours after a New York Post article suggested that the United States may create a strategic reserve of US cryptocurrencies such as Solana and XRP. While the idea may seem far-fetched, it helped push the token to a new record high.
Related to
XRP bulls appear unfazed by the SEC appeal, as Ripple appears confident that the case will be dropped following the departure of SEC Chairman Gary Gensler.
The cryptocurrency could also be next in line to get its own cryptocurrency ETF in the US, with JPMorgan predicting the product could attract nearly $8 billion in inflows.
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 responsible for any financial losses incurred while trading cryptocurrencies. Do your own research by contacting financial experts before making any investment decisions. We believe all content to be accurate as of the date of publication, but some offers mentioned may no longer be available.
Source link