"Wow interesting, when do you think these 2 cryptos will break through $1?"
Witnessing a significant climb over the past five days, Ripple (XRP) and Stellar (XLM) managed to outperform the still sluggish Bitcoin (BTC) and Ethereum (ETH) on Wednesday yesterday.
The price of XRP which fell back to $0.67 after peaking up to $0.93 last week is reported to have risen back to $0.85 while XLM broke through $0.18 after hovering below the $0.15 level.
According to Markus Levin, co-founder of XYO Network, the XRP price increase on July 19, 2023 is the result of continued excitement among investors regarding the decision of the United States (US) federal court which determined that the digital asset is not a security.
The decision has also prompted several crypto exchanges such as Coinbase, Kraken and Bitstamp to relist XRP leading to a surge in investment, trading volume and open interest in futures contracts.
Not only that, the price also saw an increase when XRP announced that it had invested in artificial intelligence (AI) including a technology company and content metaverse called Futureverse.
There is no denying that XLM has a different use case than XRP, but both projects share the same goal and the price is also strong after the positive XRP results.
The price of XLM is predicted to have the potential to go higher in the future as so far there are more than 80% of users feeling happy about the prospects of the digital asset.
It is already known that the decision of the US federal court has sided with XRP, but it should be remembered that the case has not been fully resolved following the decision that still fails to explain the basic issues that can allow XRP including other crypto firms to operate without any regulatory issues.
However, the entire cryptocurrency market over the past few weeks saw encouraging growth as some positive news emerged such as the improving macroeconomics and spot BTC ETF filings.
As of this writing, the price of XRP jumped by 4.15% at $0.82 in the last 24 hours with a market capital of $43 billion while XLM gained around 22.51% at $0.16 and climbed 74.17% over the last week.
