It seems that the whales of the Binance Smart Chain (BSC) are regaining confidence in XRP. In the past 24 hours, the token has entered the top 10 most traded tokens of BSC’s 500 largest whales. The token takes that position after rising more than 12.90 percent over the past week.
XRP is popular again
XRP’s recent price performance has been impressive to say the least. The token can’t quite match the performance of Bitcoin and Ethereum, but it stays pretty close to the big boys. Yesterday, the token finished up 2.93 percent on the boards, recording its sixth green session in a row. Also for today there is a plus of 2.98 percent for the past 24 hours.
In that sense, XRP is on track to write its seventh green day in a row. In that respect, we can say that the project is on its way back. With that performance, it currently writes a price of $0.3876 and a market cap of $19.66 billion, ranking it #6 on CoinMarketCap.
Above XRP are currently only two stablecoins (Tether and USD Coin), the BNB token from Binance, Ethereum and of course Bitcoin. The coming weeks to months should show what the future holds for XRP. The most important event on the agenda is, of course, the outcome of the lawsuit against the Securities and Exchange Commission (SEC).
The lawsuit
XRP’s camp expects the final verdict of the judge in the case against the SEC in the coming months. It is to be hoped for both XRP and the rest of the crypto industry that the judge will rule in favor of the project. If not, there is a chance that XRP will disappear from a lot of exchange platforms. That would mean that the judge agrees with the SEC that XRP qualifies as a security for US financial law.
Without a license, trading platforms are not allowed to simply list a security on their platform. Parties such as Coinbase, Kraken and Binance do not have those permits. That means that XRP could just disappear from the books there. In addition, a negative judgment by the judge for other projects can also mean that the SEC smells blood and wants them to be classified as securities by the judge.