Recently, a judge in the United States made a ruling in favour of Ripple (XRP) and this news sent a ripple effect to the entire crypto market with XRP price rising by 78% overnight while other cryptos were also in green.
This type of news always raises speculations within the crypto community and now speculations about whether it’s time to invest in XRP are currently topping trends. And as investors, we constantly seek insights into price trajectory to help in making informed decisions.
To make this even easier, we’ll delve into the current state of Ripple (XRP) and whether XRP is investment worthy in 2023.
Understanding Ripple (XRP): A Brief Overview
Just before we explore XRP’s potential as an investment, let’s do our due diligence in understanding what Ripple is. Ripple (XRP) launched in 2012 as Ripple Transaction Protocol (RTXP) which was later rebranded to Ripple Labs in 2013. Two years later, Ripple Labs was rebranded to its current name, Ripple.
Ripple is both a digital payment protocol and a cryptocurrency. Its primary focus is on enabling fast and cost-effective cross-border transactions. Ripple introduced the XRP token as a solution for cross-border payments. With its large supply and fast transaction speeds, XRP gained popularity in the cryptocurrency market.
XRP launched at $0.0058 and continued trading around the price for some months. Then the news of Ripple joining hands with Tokyo-Mitsubishi Bank in the year 2017 transformed the journey for Ripple.
XRP Price Analysis
Ripple’s XRP witnessed a surge in late 2017 to early 2018 when organisations began to adopt Ripple’s payment system. XRP surge to an all-time-high of $3.84 in January 2018 before crashing with other cryptos during a crypto winter that lasted for two years.
Amidst the crash, SEC filed a lawsuit against Ripple Labs in December 2020, leading to negative sentiment and the suspension of XRP trading on top crypto exchanges. From frying pan to fire.
XRP hit a new low of $0.1748 a week after the lawsuit announcement. The bull run of 2021 brought the value up again but XRP couldn’t cross the $1 mark.
After three years of SEC vs XRP battle, the Judge in charge of the case ruled XRP as not a security. The crypto market reacted to the news positively with many token printing long green candles like those seen during the bull-run.
As a sore loser, SEC is not backing out and wants to appeal the decision. This is well confirmed by Ripple’s chief legal officer. With the case still hanging, investors are sceptical about investing in XRP and are already exploring alternatives and one name has been on their radar, it goes by Anarchy (ANA).
Say Hello to Anarchy (ANA)!
Anarchy is the latest entrant making waves amidst uncertainty in price trajectory for XRP.
By offering a unique blend of entertainment, activism, community governance, and sustainability, Anarchy (ANA) has presented itself as the only worthy option for investors seeking significant gains in 2023.
Anarchy (ANA) transcends the typical meme coin narrative, aiming for a lasting impact beyond mere amusement and price surges. If you’re seeking an investment that goes beyond financial gains and resonates with social impact, Anarchy (ANA) community is where you should be.
How do you become part of this community? Simple, by holding some ANA, the governance token powering Anarchy ecosystem. The Anarchy team have made it easier to secure ANA at a cheaper price in the ongoing presale.
ANA is currently available at mere $0.00024, can you believe it? For a project with such potential, now is the best time to get in and position yourself for extraordinary gain. Join the Anarchy revolution today!
