XRP's Resilience Shines Amid SEC Lawsuit Concerns
TL;DR Summary
Despite concerns over the Ripple vs. SEC lawsuit, the XRP Ledger (XRPL) has shown significant growth in various areas during Q2 2023. The circulating market cap of XRP increased by 42.5% year-to-date, although it declined by 10.7% in Q2. While transaction volume decreased, there was a notable increase in average daily NFT transactions. The XRPL also saw expansion in sidechains and achieved a 31.8% growth in total new address count. Despite challenges, Ripple's ecosystem is driving utility adoption and progressing towards providing sustainable value and utility.
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