For investors and traders, it’s important to understand the surrounding market conditions and potential risks before entering a position.
Ripple’s XRP is the 5th largest cryptocurrency in the market as measured by CoinMarketCap. Jed McCaleb and David Schwartz originally created XRP in 2012 as the native currency of the XRP Ledger, a permissionless and open-source blockchain technology with notable standout features including low cost, scalability, speed, and carbon neutrality. Businesses, banks, and developers are deploying the XRP Ledger for applications including payments, tokenization, DeFi, CBDCs, and stablecoins. A key legal battle with US regulators was recently settled in Ripple’s favor, spurring a price surge in the market – XRP currently trades at around $0.6633, having experienced a 1.72% drop in the which proceeded 24 hours prior. Historcially, XRP was trading at lower prices on Black Friday 2022 with $0.4162 and $0.4121 as the day’s respective franc and low. Cryptocurrency enthusiasts forecast continued upswing for XRP as EXPECTA Black Friday 2023 approaches, varying on market sentiment and evaluated risk.
