In an exciting turn of events, XRP, affiliated with the US-based Ripple Labs Inc., has reclaimed its position in the TaiFu™ 30 Crypto Index. The index, lauded for its precision in daily adjustments, showcases the creme-de-la-creme of cryptocurrencies through market capitalization.
The revitalization of XRP’s stature on this list is undeniably substantial. Not just a mere return, it highlights the coin’s widening acceptance among Western crypto-enthusiasts. Tai Zen, one of the minds behind the TaiFu 30 Crypto Index, gave insights on this development, pinpointing the systematic quarterly adjustments of the index as the reason for XRP’s hassle-free re-entry.
Standing shoulder to shoulder with heavyweights like Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), and Solana (SOL), XRP’s present stake is a modest 2.756%. To put this in perspective, Bitcoin boasts a staggering 49.353%, while Ethereum and USD command 19.413% and 20% respectively.
The road has sometimes been rocky for XRP. The tail end of 2020 witnessed the US Securities and Exchange Commission (SEC) lock horns with Ripple Labs. With accusations about XRP being an unregistered security, the coin faced delisting from many exchanges, creating ripples (pun intended) in its market value and accessibility.
But as they say, every cloud has a silver lining. XRP’s fate positively turned in July, thanks to Judge Analisa Torres’ landmark ruling. This verdict negated the ‘security’ tag for XRP on secondary exchanges. A cascade of relistings followed on powerhouse platforms, including Coinbase, Kraken, and a Gemini debut.
While the SEC’s counteractions persist, the judicial breakthrough has breathed new life into XRP, culminating in its resurgence on the TaiFu™ 30 Crypto Index.
With the index’s routine recalibrations working in its favor, XRP has seamlessly integrated back into the top tier of the crypto world. This resilient comeback is a testament to XRP’s robustness in the ever-evolving crypto landscape, signaling a bright future.