2021 was a particularly rocky year for Ripple’s XRP and the wider crypto market. By the end of the year, several crypto majors, including Bitcoin (BTC) and Ethereum (ETH), had set new ever-high levels.
NFTs adoption and market capitalization, Meters and Web 3.0 pushed market value from a low of $ 736bn in January to a high of $ 3,009bn in November. The total value of the crypto market stands at $ 2,380 billion.
Bitcoin (BTC) dominated the market and became increasingly popular. BTC dominance stood at 73.63% in January before moving to a low of 39.56% in September 2021. At the time of writing, BTC dominance stood at 40.1%.
Like CoinMarketCap, it is XRP 7.We The largest crypto, with a market capitalization of $ 43.77bn. XRP has been sitting on No. 3 for a long time before it lost its place.
XRP, which fell from No. 3, rose 319% year-on-year. Others simply did better, with the SEC lawsuit on Ripple Lab reconnecting XRP with huge profits.
Binance Coin (BNB), now ranked 3rdrd Market cap, up 1,356% year-on-year, according to Cardano’s ADA (ranked 6th)We691% increase. SOL is currently ranked 5th.We The market cap has grown by 12,764% year-on-year.
XRP will move in 2021
In January 2021, XRP’s dropped $ 0.7872 from last year to $ 20,2108 from January-2021. With strong market support, XRP hit a record high of $ 1.9660 in April 2021, before returning to $ 0.50 levels.
The SEC sued at Ripple Lab for sale. By the end of the year, however, the prospect of a good deal with the SEC saw an XRP test at $ 1.00.
The ACC action against Ripple Lab and two executives is said to have raised more than $ 1.3 billion through unregistered and sustainable digital assets. The key to the claim is to classify SEC XRP as security. This was the opposite of ETH. In June, the SEC said discounts and sales were not guarantee transactions. The announcement endorsed the ETH race to $ 4,868 in November.
XRP is currently trading at $ 43.77 billion, up from $ 10.78 billion in January and recovering to $ 83.51 billion a year earlier.
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What’s next for Ripple’s XRP in 2022?
The markets are huge for next year. However, much depends on the outcome of the two cases.
In Empower Oversight, a nonprofit government watchdog, it will be the key to a discriminatory claim against the SEC. SEC officials encouraged surveillance, saying it favored Ripple Lab and XRP. The ruling in favor of Empower Oversight gives the SEC an additional reason to close its Ripple Lab claim, which must support XRP.
Claims such a result could see XRP withdraw from ATH $ 3.35 in January 2018. Some are talking about hitting $ 5.00 a year. However, poor results can have a detrimental effect on XRP and XRP containers. When it broke, the markets had more optimism than a year ago.
In addition to the outcome of the two lawsuits, a wide range of crypto market activities will be affected. For crypto markets weak year XRP could fall to $ 0.50 levels. The negative side of the broad crypto market is the big control.