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Amid all this, the price of XRP has continued to decline, losing more than 10% in the last eight days.
The enhanced adoption of Ripple-backed XRPL by institutional investors will significantly help increase XRP’s bullish outlook in the ongoing crypto bull run.
Ripple Labs intends to enable DeFi developers to build Ethereum-compatible applications through Wrapped XRP (eXRP) on the Axelar network.s
As of the latest update, XRP’s one-day circulation has decreased to 228.53 million tokens.
The launch of the fund is a testament to Ripple’s strong belief in the potential of Japan and Korea as pivotal regional hubs for blockchain innovation.
Despite the odds against the coin, the crypto analyst stated that there are still positive predictions about its future.
The SEC vs. Ripple lawsuit has been ongoing for the past four years since the regulator accused the cryptocurrency company of conducting unregistered securities.
The move has not only stirred speculation about the ongoing case but also the future price trajectory of the cryptocurrency.
A recent report regarding XRPL 2024’s first quarter performance revealed that the number of active users surged by 37%, and the number of transactions increased likewise by 113%.
Based on Jason Pizzino’s analysis, the top altcoin performers included Solana (SOL) with a notable surge of 180%, indicating strong growth momentum.
Garlinghouse revealed in the post that the artwork had been hanging on his wall for a while, and due to the market’s momentum, he felt like sharing it.
The renowned XRP whale has dumped 50.78 million XRP in the wake of the FIT21 bill’s passing into law.
Earlier, Ripple filed a motion to have the court redact evidence related to the remedies briefing that SEC filed on March 22.
The legal battle between the SEC and Ripple is approaching its final stages. Both sides have presented their final arguments concerning the remedies.
Ripple claims that publicly sharing documents outlining potential solutions and penalties could be harmful.