XRP has been around for 11 years now, and it has established itself as a major player in the blockchain industry. Over the years, the crypto has achieved remarkable heights and proven its worth in the world of digital finance. Both long-time supporters and new crypto investors are captivated by XRP, and the coin is gaining more attention as it enters a new chapter of its journey.
At the time of writing, XRP is trading at $0.523, showing a slight increase of 1.4% in the last 24 hours and 11% in the past seven days. Since its launch, it has grown 8,679.89%.
Ahead of its 11th-year milestone, Ripple, the company behind XRP, implemented an escrow mechanism that locked 700 million tokens into a series of escrows. This is an effort to manage the supply and distribution of XRP, providing stability and transparency to the digital asset’s market dynamics.
The recent surge in XRP’s price is also attributed to the optimism surrounding the resolution of the Ripple-SEC lawsuit. From May 24th onwards, XRP has been in the green for seven out of nine days. When the lawsuit was filed in December 2020, XRP’s price dropped to $0.16, but since then, it has gained significantly as investors await a positive outcome.
The resolution of the Ripple-SEC lawsuit is a crucial event to watch for XRP enthusiasts and the broader crypto community, as it has the potential to significantly impact the trajectory of the coin.
