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XRP is experiencing strong upward sentiment

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XRP tokens
Source: Shutterstock, Wit Olszewski

The fight between Ripple and the US Securities and Exchange Commission (SEC) continues. However, the XRP token is growing, especially in terms of usage. This week, the number of active XRP addresses reached a new all-time high – more than 85,000 unique addresses, and according to Messari, it has grown by 836.13% in the last year.

Strong upward sentiment on XRP

These historical movements suggest strong upward sentiment for XRP. The main reason for this milestone may be partly the recent agreements that Ripple has concluded with some key partners. On Wednesday, Ripple announced a partnership with the Qatar National Bank Group (QNB Group), which will help the bank facilitate cross-border payments in Qatar.

“We look forward to working with QNBG to provide enhanced cross-border payments in Qatar and ultimately expand QNB RippleNet’s transfer services to other markets,” the company said.

Previously, Ripple announced a partnership with the Central Bank of Bhutan to achieve a similar use of the XRP blockchain. The Royal Monetary Authority (RMA) will use XRPL’s CBDC solution to issue its digital currency.

Other factors and partnerships

Another factor may have been Ripple’s announcement of the launch of a $ 250 million fund to support NFT creators.

Part of this milestone was the partnership with the NFT markets mintNFT and Mintable, which will integrate the XRP ledger and provide developers and users with a seamless NFT experience. The company expects this partnership to help accelerate adoption by attracting a wide community of creators to engage and use the NFT on the XRP blockchain.

Legal struggle

The mood can also be positive because the legal dispute between the company and the SEC is slowly turning in favor of the company’s fints. In particular, following a recent decision by Judge Sarah Netburn to propose a review of certain SEC notifications.

Ripple’s legal team is gradually finding cracks in the main points of the lawsuit. If the company wins the lawsuit, XRP could secure a massive price increase to new highs in the long run.

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