After a prolonged “crypto winter” with multiple calamities like the collapse of FTX in 2022, and sustained regulatory pressure throughout last year, the crypto market finally apparently shook off much of the downward pressure in the final quarter of 2023.
XRP was one of the biggest gainers among prominent cryptocurrencies and has risen approximately 85% throughout the year. This was driven by broader market conditions, a string of legal victories in its long-standing struggle with the SEC, and Ripple’s continued expansion of central bank digital currency (CBDC) partnerships.
Still, challenges for XRP persist, as was reflected by the fact that it, despite several significant surges, failed to maintain a decisive upward momentum. Its victory against the SEC isn’t guaranteed, and while 2024 appears like it will bring a bull market for crypto, it is unclear if it will truly be smooth sailing in the coming months.
XRP 1-year price chart. Source: Finbold
With the recent rallies and a
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