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Despite the delay in the launch of its long-awaited stablecoin, Ripple’s native token (XRP) continues to establish itself as one of the most relevant cryptocurrencies on the market. Its return to the top 3 by capitalization after several years reaffirms its position as one of the great historical protagonists of the crypto ecosystem.
Ripple’s recent triumph in its protracted legal battle against the United States Securities and Exchange Commission (SEC) marked a key turning point. This result has removed significant barriers for the project, attracting the attention of institutional investors and renewing confidence in the XRP token.
The news of Gary Gensler’s upcoming retirement as SEC Chairman, scheduled for January 20, acted as an additional catalyst for a notable bullish rally. Over the past few weeks, XRP has shown impressive performance, accumulating a 365% gain in just 30 days, standing out as one of the most profitable investments of the recent period.
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With its renewed strength, XRP is currently positioned as the third most valuable Cryptocurrency, behind Bitcoin (BTC) and Ethereum (ETH). Furthermore, the return of large investors and the reactivation of strategic alliances, suspended during the litigation with the SEC, reinforce its promising future.
XRP price remains on the podium in market capitalization despite recent profit taking. Source: CoinMarketCap
Ripple’s XRP Token Shows Firmness Amid Bearish Pressure
The price of XRP, which recently reached almost $3, has retreated to $2.37 following strong profit taking. This adjustment was influenced by the announcement of the delay in the launch of its stablecoin, which depends on the approval of the New York Department of Financial Services (NYDFS).
In the last 24 hours, However, the pullback appears to be a temporary event as there is no indication of technical issues in the Ripple stablecoin. According to experts, once it receives regulatory approval, the coin could quickly enter active trading.
Although the current correction has raised questions about the sustainability of the rally, XRP’s strength in recent weeks remains a topic of interest. Some analysts believe that the increase could include speculative elements, fueling fears of a possible bubble. However, it is likely that, after a brief bearish episode, the token will once again try to overcome the psychological barrier of $3.
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