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The XRP token has attracted a lot consideration, particularly due to Ripple’s ongoing legal battle with the US Securities and Exchange Commission (SEC). This has led to speculations on whether or not Ripple is ready to management the XRP worth or not. So crypto analysts have chimed in to share their opinions.

No Ripple Effect On XRP?

Pro-XRP influencer Crypto Eri said in a tweet that she doesn’t depend on the “efforts of Ripple” to extend XRP’s worth. She prompt that the crypto firm hasn’t carried out a lot to develop the token because it accounts for a “single digit impact on volume.” 

Unlike DAI, I don’t depend on the efforts of Ripple to construct up the value of XRP. Never have, by no means will. Especially with accounting for single digit impression on quantity. It’s shocking after surviving the SEC assault, anybody would subscribe to this reliance. https://t.co/XG2bA6qsva

— 🌸Crypto Eri 🪝Carpe Diem (@sentosumosaba) September 4, 2023

There is a standard perception that token issuers ought to be capable to management and drive up the value of their tokens, whether or not via their advertising and marketing efforts, a deflationary mechanism, or just growing the use instances of their tokens to ship a bullish sign to the crypto neighborhood.

In Ripple’s case, Eri believes holders shouldn’t depend on the corporate, particularly after “surviving” the SEC assault. While her stance is unclear, many might argue that Ripple’s effort in its case in opposition to the SEC reveals its dedication to constructing the ecosystem and selling mass adoption of its token.

Eri’s tweet got here in reply to a different pro-XRP influencer, Digital Asset Investor, who tweeted about why he was bullish on XRP. In distinction to Eri’s view, this influencer believes that Ripple’s efforts will vastly have an effect on XRP’s worth as Ripple guarantees to disrupt the worldwide monetary system, so he’s bullish on the token.

Some would assume these have been issues mentioned by influencers to hype XRP. They have been really mentioned by Ripple. This is why I’m right here. I consider them.🏆🏆🏆In It To Win It!🏆🏆🏆
-XRP Could Help In A Systemic Risk Situation In one other monetary disaster
-XRP shall be like a supranational…

— Digital Asset Investor.XRP (@digitalassetbuy) September 2, 2023

Has Ripple Had Any Effect On XRP?

It is price mentioning that the XRP worth skilled vital positive factors on the again of Judge Analisa Torres’ ruling in favor of Ripple. The token surged over 23% inside hours of the choice and rose to as excessive as $0.9 as a result of ruling. 

Furthermore, XRP turned the fourth-largest token by market cap following the choice (though it has dropped to fifth since then). However, there isn’t a denying the potential for Ripple to go head-to-head with the foremost cryptocurrencies reminiscent of Bitcoin and Ethereum.

Interestingly, there was a major improve in daily transactions conducted on the XRP ledger, with extra transactions performed on the blockchain in the beginning of final month than main blockchains Ethereum and Bitcoin. 

Ripple has additionally not rested on its efforts to develop the XRP ecosystem regardless of the SEC’s lawsuit in opposition to it. The crypto firm is looking to expand into the tokenized assets industry by enabling buying and selling of those asset courses on the XRP Ledger. 

There are additionally plans to launch an upgrade for the XRP Ledger, with a notable modification being the introduction of a novel automated market maker (AMM). This replace may see XRPL grow to be a serious participant within the DeFi house and improve XRP’s utility, which may set off a rise in its worth. 

Token worth stalls at $0.50 | Source: XRPUSD on Tradingview.com

Featured picture from CoinMarketCap, chart from Tradingview.com