During the European session, XRP price is up 7.5%, bringing nostalgic price action back to the market. More than 4.3 million unique addresses now contain XRP, Ripple’s native token. Despite its own troubles and the ongoing crypto winter that has pushed multiple assets to multi-month lows, the XRP coin has achieved this milestone.
Although XRP was not immune to the attacks, the asset’s recent success shows its performance despite the turmoil. So let’s take a look at a few fundamentals that drive optimization for Ripple.
XRP price and tokenomics
The current XRP price is $0.3487 and the 24-hour trading volume is $1.2 billion. On Saturday, the XRP/USD pair opened the day at $0.3439, hitting a high of $0.3576 and a low of $0.3438. In the last 24 hours, XRP is up 6.99%.
CoinMarketCap is now ranked #7 with a live market cap of $17 billion. There are 49,826,021,773 XRP coins in circulation, with a maximum supply of 100,000,000,000 XRP coins.
US court approves plan for SEC Ripple lawsuit
In December 2022, the Securities and Exchange Commission (SEC) filed a lawsuit against Ripple, developer of the XRP cryptocurrency token, for marketing what the SEC considers to be unregistered securities.
Defense Attorney James K. Filan alleges that a New York court approved the United States Securities and Exchange Commission (SEC) and Ripple Labs’ combined plans, which include deadlines for revising the rule for filling concerns in upcoming summary judgments.
This step is considered essential to finally end the protracted legal battle.
Ripple vs. SEC: Building a Common Understanding
Chris Larsen, a co-founder of Ripple, and Brad Garlinghouse, the company’s CEO, have been named as defendants. The company denies claims that XRP is a security as the sale of stocks and bonds is subject to strict oversight by government agencies in the United States.
The SEC requested confidentiality on its proposed experts in a Sept. 9 filing. Some have claimed in the past that these types of procedures are necessary to prevent witness harassment.
Ripple strongly disagreed with this idea and insisted that the case be kept open to the public. Defense attorney James K. Filan tweeted that he and the prosecutor may have spotted common ground.
The SEC and Ripple decided to unseal portions of their respective court filings in a joint letter to Presiding US District Judge Analisa Torres and make the case public. However, it is likely that some details will have to be left out.
The SEC and Ripple have seven days from the filing date to issue updated public summaries. Ripple has declined to negotiate a settlement with the SEC, citing a desire to protect the cryptocurrency industry from excessive government oversight.
XRP wallet addresses surpass 4.3 million
As of this writing, the total number of XRP wallet addresses is 4,303,972 as reported by crypto market research firm Messari.
- 301 of those 4.3 million addresses have XRP more than worth 10 million dollars.
- More than 1 million dollars in XRP is hosted by 823 unique IPs.
- In total, 4,299,813 wallets hold at least the value of XRP $1.
According to Messari’s statistics, 66,977 XRP addresses were used in the last 24 hours: 52,575 as recipients and 21,429 as senders. As a result, the number of live addresses has increased by 29% over the past month.
|Key Stats: XRP Wallet Addresses|
|7 days ago||4,298,350|
|30 days ago||4,281,293|
|1 year ago||3,305,578|
|% change from 7 days ago||0.13%|
|% change from 30 days ago||0.53%|
|% change from one year ago||30.20%|
Ripple and Travelex Bank launch crypto payments in Brazil
Ripple, a cryptocurrency solutions and enterprise blockchain provider based in the United States, has partnered with Travelex Bank to launch cryptocurrency-based payment methods in Brazil.
Ripple chose Travelex Bank because it is the only bank in Brazil that focuses exclusively on foreign exchange. Ripple’s on-demand liquidity (ODL) will be used in conjunction with the two companies’ efforts to better serve their consumers when making international payments.
By partnering with Travelex Bank, Ripple launched its On-Demand Liquidity (ODL) service in Brazil in August 2022. With the ODL service, consumers can carry out international money transfers quickly, with low processing costs and without holding any capital on the recipient market.
Additionally, Travelex Bank has partnered with Ripple to make it easier for their customers to use a variety of international money transfer and payment services, including wire transfers, global payments, ATM access, prepaid cards capable of loading multiple currencies, and more .
XRP bounced off the key support at $0.33
The XRP/USD pair is trading at $0.3481 on the daily timeframe after forming a symmetrical triangle pattern. This pattern extends the strong resistance near $0.3596, which XRP failed to breach twice in the last month. This is forming a double top pattern and bulls are likely to struggle if this $0.3596 level is not broken.
The 50-day exponential moving average (EMA) is also expected to offer a strong resistance near $0.3590. On the other hand, increased XRP demand could break $0.3596 and open more scope for buying up to the $0.3915 level.
On the downside, the XRP/USD pair is finding immediate support at $0.3215 and $0.3045. Finally, the leading technical indicators like RSI and MACD are in favor of a buying trend, which suggests that the bullish bias is likely to prevail and we could see XRP approaching the $0.3915 level soon.
Alongside XRP, meme coins are getting attention, particularly the Tamadoge presale, which is “selling out fast.” Check out the Tamadoge Price Prediction for 2022, 2023 and 2025.