FILE PHOTO: A representation of cryptocurrency Ripple is seen in this illustration taken August 6, 2021. REUTERS/Dado Ruvic/
XRP has become the unlikely white knight of crypto, thwarting its regulatory foes and dragging the market out of the doldrums.
The price of XRP popped 78% after a U.S. judge ruled on July 13 that issuer Ripple Labs' sales of the token on public exchanges didn't violate securities law, and it's still up about 47%. Its market cap has ballooned to $36 billion from $25 billion and its crypto market share to 3.5% from 2% before the ruling, according to CoinMarketCap.
