Ripple’s XRP Beats Ethereum in Daily Transactions
Since Ripple’s partial win against the SEC, there has been a surge in activity on the blockchain, resulting in XRP surpassing Ethereum in terms of daily transactions.
Main Breakdowns:
- XRP Ledger has seen a significant increase in transactions since the court ruling.
- In August, daily transactions on the Ripple Ledger consistently exceeded 1 million.
- On its best day in August, XRP recorded 1.3 million transactions, compared to Ethereum’s 1.04 million and Bitcoin’s 390,000.
- XRP experienced a drop in July but has been on an upward trajectory since then.
- Although transaction numbers have increased, XRP still lags behind Bitcoin and Ethereum in terms of volume.
XRP’s Momentum Affected by SEC’s Appeal
XRP initially received a significant boost after the court ruling, but its price has since retracted. The SEC’s plan to file an appeal may further impact XRP’s momentum, resulting in a negative market reaction.
Hot Take:
Ripple’s victory in the legal battle has brought renewed attention to XRP, leading to a surge in daily transactions. However, the SEC’s appeal and XRP’s lagging volume compared to Bitcoin and Ethereum indicate potential challenges for its future growth.
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