XRP Dominates the Cryptocurrency Market

Latest developments from Ripple Labs and the SEC (U.S. Securities and Exchange Commission) has had a significant impact on the market, which affects the market value of XRP.

Market data analysis proves XRP’s dominance over second-generation cryptocurrencies, Ethereum (Ethereum)

In the United States, several cities have increased investments in XRP compared to Ethereum, which has had a positive impact on the XRP community.

These include New York, Vermont and even the District of Columbia.

XRP’s dominance over ETH in the US

Growing U.S. interest in the coin Ripple Comparing Ethereum’s ETH based on recent market analysis.

According to Google Trends data, XRP investment interest has increased in more than 47 states as people choose to participate in the digital asset instead of Ethereum’s ETH.

States showing growing interest include Arizona, Hawaii, Nevada, Delaware and Louisiana.

These are the most popular regions for XRP, with others not far behind, but Ethereum’s dominance has been seen in several states, including Oregon, Vermont, New York, and the District of Columbia.

However, Ripple has experienced dramatic ups and downs since the beginning of this year, after embarking on a legal battle with the SEC more than three years ago.

However, the cryptocurrency has made significant gains since the second half of 2023.

The reason behind this growth may be the SEC’s growing interest in filing lawsuits against XRP backbone company Ripple Labs.

What’s next for XRP?

Relevant executives of the company and the company as a whole are confident that they can successfully defeat the SEC.

network Blockchain The successful victory over regulators has boosted investor confidence in digital currencies.

The outcome of the protracted legal battle, which began in 2020, will be revealed in a major trial in 2024.

The recent developments may be related to XRP’s value growth beating ETH in the 24-hour analysis.

Additionally, a potential win for parent company Ripple Labs could signal a possible increase in the asset’s market value.

Among the predictions from experts including cryptocurrency analyst CredBULL, a post on their X website revealed that they predict the asset will reach $0.90 by the end of summer 2024.

This also coincides with other experts on digital markets, including Sharonn Throp, who said the asset’s price could reach $500 in the future.

If this can be accomplished in the coming months, its market value could increase to over $250 trillion. This could be a significant increase from the 2021 value of $3 trillion.

According to data, the value of XRP increased by 5.07% in the past 24 hours coin market cap. Its weekly increase was also 16.54%, which exceeded Ethereum.

This is said to be because its current value at the time of writing is $0.6453. XRP’s market capitalization also increased to $34.5 billion, and daily trading volume increased by 49.67%.

On the other hand, the price of Ethereum has only increased by 2.65% in the past 24 hours. Its weekly increase was 4.97%, and its daily trading volume decreased by -0.08%.

As of this writing, its current price is $1,883. Therefore, this shows the dominance of Ripple’s XRP relative to Ethereum (ETH), with Ripple’s difference being 2.42%.

information Bitcoin Synthetic.