Ripples Influence on XRP Price: Insights from Crypto Analysts

The Influence of Ripple on XRP Price

The ongoing legal battle between Ripple and the US Securities and Exchange Commission (SEC) has sparked discussions about whether Ripple has control over the price of XRP. Crypto analysts have weighed in on this matter.

Pro-XRP influencer Crypto Eri, in a tweet, expressed her belief that Ripple’s efforts have little impact on increasing the value of XRP. She argued that the company’s influence on the token’s volume is minimal. Eri emphasized that relying on Ripple for XRP’s price growth is unnecessary, especially after surviving the SEC attack.

While it is commonly believed that token issuers can control the price of their tokens, Ripple’s commitment to building the ecosystem and promoting mass adoption may indicate otherwise. However, another pro-XRP influencer, Digital Asset Investor, holds a bullish view, believing that Ripple’s efforts will significantly affect XRP’s value.

Examining Ripple’s Impact on XRP

Notably, the XRP price experienced a substantial increase following Judge Analisa Torres’ ruling in favor of Ripple. Within hours of the decision, the token surged over 23% and reached $0.9. Additionally, XRP briefly became the fourth-largest token by market cap.

Ripple has shown continued dedication to developing the XRP ecosystem despite the SEC’s lawsuit. The company aims to expand into the tokenized assets industry and enable trading of these assets on the XRP Ledger. Moreover, an upgrade for the XRP Ledger is in the works, which includes the introduction of an automated market maker. This update could position XRPL as a major player in the DeFi space and increase XRP’s utility, potentially driving its value higher.

Hot Take: Ripple’s Efforts Are Instrumental to XRP’s Value

While opinions differ, Ripple’s actions and developments indicate its commitment to the growth and success of XRP. The influence of Ripple on XRP’s price may be debated, but recent events and ongoing initiatives suggest that the company’s efforts play a significant role in shaping the token’s value.