Despite the ongoing legal case between Ripple and the Securities and Exchange Commission (SEC), Ripple’s XRP has seen a surge of almost 30% over the past 30 days. Ripple CTO David Schwartz clarified doubts surrounding the significance of XRP retail sales for the company, stating that the main objective is to ensure wider distribution of XRP and generate Higher revenue from retail sales. Debate had centered on whether XRP was specifically created to be sold or not, with some critics questioning the sustainability of Ripple’s business model. Ripple CEO Brad Garlinghouse had previously stated that XRP retail sales had supported the survival of the firm. This statement sparked questions and debates on ripple’s dependence on XRP token sales for revenue. Ripple, however, has maintained that it would continue to flourish even without indulging in the sales of XRP coins. Ripple is still battling against SEC allegations that it was conducting XRP sales through an unregistered security offering, and raised over $1bn in 2013 from selling the XRP tokens. XRP’s current market cap stands at $25.56bn, with a market dominance of 2.10%. Its price over the past 7 days dropped by 3.29%, but has surged by almost 30% and 28% over the past 30 and 90 days respectively.
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