Investors are trooping into the crypto asset at record levels amid reports that reveal an ongoing legal tussle with the US SEC.
Just recently the powerful financial regulator stated that the flagship crypto and Ethereum were not securities due to their decentralized nature meaning it was safe for crypto exchanges to trade such unregulated financial assets.
However, Ripple was viewed in a different way on the bias that its development and distribution of XRP were conducted by Ripple in a centralized way.
At press time, the popular crypto traded at $0.476380 with a daily trading volume of $7 Billion. XRP is up 9.06% for the day.
The crypto is currently valued at around $22 Billion.
It currently has a circulating supply of 45.4 billion XRP coins and a maximum supply of 100 billion XRP
The seventh most valuable crypto is presently traded on FTX, Binance, OKEx, Crypto.com, and HBTC.
These gains will surely calm the nerves of many XRP investors disturbed by the ongoing legal tussle between Ripple and a powerful financial regulator.
Ripple’s XRP is often tagged as the “remittance network” and currency exchange that independent servers authenticate. The currency traded is known as XRP and transfer times are super-fast.
Ripple (XRP) plays dual roles as a payment platform and a currency. The platform is an open-source platform that was created to allow quick and cheap transactions.