The price for Ripple (CCC:XRP-USD) surged on March 22 after the cryptocurrency’s parent, Ripple Labs, caught a break in its lawsuit with the Securities and Exchange Commission (SEC).
Magistrate Judge Sarah Netburn stated that investors outside of Ripple Labs were not trading illegal securities. As a result, cryptocurrency exchanges can resume listing XRP-USD tokens.
While the XRP-USD price jumped on the news, it was back down below 48 cents by March 25. At the time of publication, it’s trading around 57 cents. Like most cryptocurrencies, volatility is its strong suit.
Ripple Labs recently produced a report about central bank digital currencies (CBDCs) that suggested XRP-USD is a good example of a neutral bridge asset that governments can use to get money into the hands of the unbanked quickly and efficiently.
While I do not doubt that cryptocurrencies can play a major role in the future of banking, as an investment, the seventh-largest cryptocurrency remains on the outside looking in. If you’re going to move some of your greenbacks into a cryptocurrency, XRP-USD would not be my first choice.
Buying XRP-USD as a Cryptocurrency
In my last article about Ripple, I stated that it faced a steep, uphill climb both as a company and a cryptocurrency. The judge’s comments aside, I still feel this way.
The cryptocurrency is up 141% year-to-date. However, it’s a long way off the