Ripple: What a rise in transaction count can do for a recovering XRP
Ripple [XRP] appeared to defy all the odds considering the alt’s price movements and trading patterns since the beginning of October. On one hand, XRP registered gains and on the flipside Ripple continues to be embroiled in the never ending lawsuit with the SEC.
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Here’s AMBCrypto’s Price Prediction for XRP for 2022-23
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But now the question remains: Could XRP sustain the gains? Or will it crumble down given the pressure…
The latest developments in the case crystalized a potential win for Ripple, moving to dismiss the case. While the SEC tried to get a grip on the whole industry, Judge Torres’ latest rulings on motions (potentially) indicated a vital victory for XRP.
Needless to say, such motivation did indeed spark some interest in the respective crypto.
XRP, at the time of writing,surged by more than 8% on CoinMarketCap as it traded around the $0.52 mark. A similar hike was visible in XRP’s transaction count on Messari as well.
Last year XRP processed around 730,000 daily transactions BUT now the cryptocurrency was recording over 1.29 million transactions each day.
Source: Messari
Thus, the rise of more than 100% made XRP responsible for 50% of all crypto transaction volume, according to data from BitInfoCharts.
The aforementioned increase in price and transaction count could have witnessed significant help not just from the crypto community but even outside the sphere. For starters, payment giant Visa collaborated with global crypto exchange FTX to offer debit cards in 40 countries with a focus on Latin America, Asia, and Europe. Herein FTX partnered with
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