In a fascinating report for the second quarter, on-chain analytics firm Messari highlights the expansion of XRP and XRPL. The native token on the XRP Ledger (XRPL) is XRP, which is used for wallet reserves, transaction fees, and other purposes. Messari claims that the XRP price surge in the first quarter of 2023 is primarily to blame for the 42.5 percent increase in the circulating market cap to date. The price of XRP nearly reached its all-time high set in late March in June after a drop in the beginning of May. Messari observed that news of the SEC’s ongoing
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