With gains of more over 4%, Ripple was the least lucrative of the top ten cryptocurrencies from the current rise.
This may be due to the uncertainty around the outcome of the US Securities and Exchange Commission’s (SEC) legal action against Ripple. However, since the supervisory body was compelled to give the fintech business the records linked to Hinman’s speech in 2018, the situation has improved in Ripple’s favor.
Elon Musk’s decision to finalize the agreement with Twitter (NYSE:TWTR) this week may benefit XRP in the long run. Tweeted by tech writer Jane Manchun Wong, Twitter was developing a wallet that would permit deposits and withdrawals.
Twitter is working on a “wallet prototype” that supports “crypto deposit and withdrawal”
— Jane Manchun Wong (@wongmjane) October 24, 2022
We may presume that Musk will use Twitter for his next X application in light of the potential acquisition, as he stated:
The creation of X, the all-in-one application, is sped up by the acquisition of Twitter.
He is planning an all-in-one app with crypto-wallet features that might be as popular outside of Asia as WeChat. So too should XRP, one of the top ten cryptocurrencies, be encouraged.