Huge numbers of crypto investors are showing their interest in the Ripple (XRP) token investment under the current positive situation of the crypto market.
XRP is the native token of the XRP Ledger blockchain network. XRP ledger blockchain operates on Proof-of-stake consensus under the centralized power support of Ripple company. Ripple Labs provides all technical hash power to the XRP ledger blockchain and it also uses its XRP Token to facilitate cross-border payment services via the use of XRP token global trade liquidity under the decentralized medium without impacting the price of the token.
On 25 August, Santiment, a crypto analysis platform, reported that BinanceCoin, Pancakeswap, Theta, and XRP token are getting significant positive sentiment in the current market situation. This analysis was based on the analysis by Santiment in the last 7 days.
At his moment, the crypto market is facing a significant correction and the majority of the crypto assets are struggling to touch their base price.
XRP token price
At the time of writing this article, the price of the XRP token is $0.34 and this price is 4% higher than the last 30 days’ trade price.
Here positive sentiment toward the XRP token is giving a positive relief for the XRP token lovers because in the present time majority of the big players are trying to go away from XRP token investment because of the ongoing legal fight of backend company Ripple against the United States Securities and Exchange Commission (SEC).
In December 2020, The SEC agency filed a lawsuit against Ripple labs and claimed that the XRP token is a security, and also regulatory body said that the company violated securities law by selling more than $1 billion worth of XRP tokens publicly.
Read also: Afghanistan bans 16 crypto exchanges