Ripple (XRP) is emerging as one of the leading cryptocurrencies in the market currently. At one point, it managed to enjoy a 17% rise in a 24-hour period, making it one that investors continue to watch closely.
The surge has left some of the biggest names in the market trailing behind it, with the likes of Bitcoin being left in the dust (despite its actual position).
However, when looking at the reasons why XRP has experienced a positive trend recently, it becomes quite simple to understand why it has enjoyed the success that it has.
What has made XRP grow?
Cryptocurrency is currently on a climb. As more people are becoming educated about its benefits and how it can be used, a growing interest has started to be experienced. There are many examples in which several industries have started to incorporate them into their businesses, whether it be regarding the technology that is used or accepting virtual currency as a form of payment.
The iGaming industry has been one sector to use both aspects, leading many to do their research when choosing the best crypto casino to use, especially when they are looking for the options that give them access to the best bonuses. XRP is one type of crypto that has been widely used, especially regarding the latest headlines surrounding it.
One of the reasons for Ripple’s growth has been due to the legal victories that have been achieved. XRP has been in the crosshairs of the U.S. Securities and Exchange Commission for a while, and with 18 U.S. states having filed a lawsuit against the governmental agency and its chairman, Gary Gensler, there is hope that there could be less regulatory pressure on it. This hope is starting to fuel excitement among investors, as they have begun to bet on it growing with a successful ruling.
Additionally, the re-election of Donald Trump is having a positive boom on the entire global cryptocurrency market. The new president is known to be supportive regarding crypto, and he has already made moves that suggest that he will do as much as he can to try and create favourable conditions for virtual currency to thrive within the US. One thing Trump may do is to look to hire someone who is crypto-friendly to head the SEC, removing Gensler from his position.
Ripple has also been growing its presence in various countries and regions, which has excited investors. There have been global collaborations experienced in locations like Asia and the Middle East, which has fueled excitement. As these continue to grow, the confidence that investors have in Ripple’s future has helped to increase the price of the cryptocurrency and allowing it to make waves across the market.
XRP is an appealing asset
For investors, some may argue that there aren’t many forms of cryptocurrency that are as appealing as XRP.
The coin is extremely scalable and has a strong infrastructure. Each of these aspects can make it an attractive proposition for those involved in long-term investment and looking to try and maximize potential returns from a crypto token that is still considered to be bullish.
In addition, patient investors who are playing the long game may take a liking to XRP due to its durability, practicalness, and usefulness, as these can provide significant returns.