XRP Takes the Lead on Upbit
Ripple’s native token, XRP, has been garnering attention from investors due to positive developments in its lawsuit against the US Securities and Exchange Commission (SEC) and subsequent price increases. According to research by Kaiko, XRP-KRW is the most popular trading pair on South Korean exchange Upbit, with a year-to-date transaction volume exceeding $30 billion. BTC-KRW ranks second in popularity. Interestingly, ETH-KRW falls behind in ninth place, outpaced by other digital assets like Dogecoin and Solana that Upbit users prefer to trade. The XRP-KRW trading pair has held the top spot for 70 days, surpassing BTC-KRW at 64 days.
XRP’s Rising Value
XRP’s price has recently experienced significant growth, reaching a two-month high of over $0.58. Market experts and analysts believe that the current bullish market conditions, potential victory against the SEC, and other regulatory developments could drive XRP’s price even higher. One Twitter user named Dark Defender predicts a potential surge of approximately 1,000% by the end of 2024 for XRP. According to Dark Defender, this forecast could become a reality if XRP successfully surpasses key support and resistance levels, including the $1.30 mark. If achieved, XRP could reach $6 within a few months.
Hot Take: XRP’s Potential Surge
In light of recent positive developments surrounding its lawsuit and growing popularity on Upbit, XRP appears to be positioned for a potential surge in value. With its current price increase and predictions suggesting further growth in the coming years, investors may find it worthwhile to keep an eye on XRP as it continues to navigate through legal challenges and regulatory changes.
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