XRP Might Be Sneaky Winner In BlackRock Coinbase; Here's Why

BlackRock Inc entered into a partnership with Coinbase Global Inc in a bid to provide digital asset exposure to its users. However, an expert suggests that this deal is a win-win situation for Ripple's XRP token.

Timeline of Xrp

U.S. Securities and Exchange Commission (SEC) added more digital assets to its list of “securities”, lately. However, the XRP holders' lawyer came has alarmed crypto supporters and Congress over the SEC's unlawful expansion of the Howey Test in the due time.

Between 29 July and 30 July, XRP rallied from $0.36 to $0.40, reaching a thirty-day high. Around the same period, XRP flipped BUSD to become the sixth largest cryptocurrency in market value.

The SEC's lawsuit against Ripple has been a constant dark cloud hovering over the company's growth attempts. However, this has not stopped Ripple from pursuing growth opportunities in various segments.

Ripple (XRP) XRP price is trading heavily within the accumulation phase as it is heading towards the lower lows. On the other hand, social engagements hit a huge high of more than 11.47 million which is the highest point in the last 90 days.

XRP is showing incredible strength when compared to other altcoins and seems to be ready for a significant breakout. The increased volatility had generated significant upward momentum, but the recent price decline reversed the bullish momentum and the price dropped below $0.4.

After a series of back and forth over the years, the U.S. Securities and Exchange (SEC) only wants to put Ripple down. This was the opinion of Ripple's legal counsel and the team at large.

Defendants Ripple, Bradley Garlinghousems, and Chris Larsen have made another move to encircle the US SEC in the critical lawsuit. Ripple sought consent from Video platform According to James Filan, Ripple and other defendants have asked the court to serve non party subpoenas in order to obtain copies of seven video recordings.

Barcelona-headquartered blockchain startup Peersyst has made an important announcement about the first National Land Registry system built on the open-source public XRP Ledger (XRPL). XRPL was created in 2012 by David Schwartz, Jed McCaleb, and Arthur Britto, and its native digital asset is XRP.

Crypto payments infrastructure provider Ripple revealed in its second-quarter earnings report on July 28 that it saw a significant increase in the demand for its associated XRP token. The post Ripple's XRP sales increased almost 50% in Q2 vs Q1 appeared first on CryptoSlate.

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice. While the market-wide bloodbath seemingly came to a short-term rest, XRP bulls finally had some breathing room to propel a near-term recovery on the charts.