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No doubt that Bitcoin is the number one cryptocurrency, But Ripple is the clear winner when we talk of transaction fees, low price, and transaction speed. What makes Ripple a good investment option is that it is an official organization and not another Blockchain startup, and there is no inflation.
On Wednesday, Ripple’s XRP was raised by 0.40% and ended at $0.2953. On Thursday, it was increased by 2.4% to $0.298. It is still below the January high of $0.3705, but, One exciting thing to be noted is that Ripple's XRP outperformed Bitcoin on Thursday, which was at $34,779.71 after an increase of 2%.
After the exceptional case filed by the Security and Exchange Commission (SEC) against Ripple for the sale of unregistered securities to raise funds over $1.3 billion, it fails to make that much of success compared to the previous year. It is trading almost 63% below the last year's high of $0.7800, making it the fifth-biggest cryptocurrency globally, first being Bitcoin as evident and Polkadot occupying the fourth spot in terms of market capitalization. Notably, Polkadot has overtaken Ripple at the start of 2021.
McCaleb, Ripple’s co-founder, has sold over 28.6 million XRP tokens that amount to nearly $8.7 million, despite the pending SEC charges. Notably, he has taken a 25-day hiatus. SEC will soon be having a new chairman under the Joe Biden Governance. On the one hand, where Ripple's CEO Bradley Garlinghouse has hope with Gary Gensler's appointment as SEC head, traders believe that Gary Gensler might not interfere with the ongoing investigation against Ripple.
One might get excited after seeing XRP outperforming Bitcoin on a day. However, it is still trading below its January high, and its volatility has also dropped to the lowest since November 2020. When several large exchanges have announced that XRP will be halted on their platform to avoid any backlash from the SEC, it would not be wrong to say that Ripple's price will remain at these lows.