XRP recently set a new milestone in the cryptocurrency world, becoming the most traded coin globally by processing over 6.3 million transactions in one minute.
The achievement was highlighted by Brett (@Brett_Crypto_X), a prominent crypto figure on X, who shared a video from fellow crypto enthusiast Xaif.03 showcasing XRP’s transaction surge.
The timing of this milestone is noteworthy, as it comes amid ongoing uncertainty surrounding Ripple’s legal battle with the U.S. Securities and Exchange Commission (SEC). Despite the SEC’s recent appeal, which has created some ambiguity around XRP’s future, the cryptocurrency has demonstrated resilience and continued growth.
XRP’s Growth Amid Regulatory Challenges
Ripple, the company behind XRP, has been in a protracted legal dispute with the SEC regarding whether XRP should be classified as a security. In July 2023, Ripple secured a major victory when a federal judge ruled that XRP sales on public exchanges did not constitute securities offerings and that XRP itself is not a security.
Ripple won the legal battle a year later when the court ruled that the company should pay a $125 million penalty, significantly lower than the SEC’s $1.95 billion request. However, the SEC’s subsequent appeal has opened up old wounds, leaving many in the crypto community questioning the long-term implications for XRP.
Despite this regulatory uncertainty, XRP’s recent transaction surge shows its growing adoption and highlights the cryptocurrency’s ability to maintain market relevance in the face of legal challenges.
We are on twitter, follow us to connect with us :- @TimesTabloid1
— TimesTabloid (@TimesTabloid1) July 15, 2023
Community Reactions to XRP’s Record
Following the announcement of XRP’s achievement, the crypto community reacted with excitement and skepticism. Many users on X celebrated the news, with one user stating, “XRP will rule the world!”
Another user commented, “That’s what it’s built for,” pointing to XRP’s reputation as a fast, scalable digital asset designed for high-volume transactions and to serve as a global reserve currency. The coin’s ability to handle millions of transactions per minute aligns with Ripple’s vision for XRP as a tool for efficient cross-border payments and other financial applications.
Positive reactions were widespread, with another user stating, “That is great news,” reflecting a general sentiment of optimism among XRP proponents.
However, not all responses to XRP’s milestone were positive. One user remarked, “…and we still can’t break .75,” referencing XRP’s failure to meet expectations.
Despite the skepticism, XRP is making major strides, and many see it as the front-runner for the BRICS bloc which is looking for an alternative to SWIFT. This milestone shows that XRP can handle large transaction volumes, and it is only a matter of time before it gets the recognition and adoption it deserves.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
Follow us on Twitter, Facebook, Telegram, and Google News
