First anniversary of Ripple's victory over the SEC

A year ago, the court said that retail sales of XRP do not fall under the definition of offering unregistered securities, ending a process that began in December 2020.

Ripple's victory also led many leading cryptocurrency exchanges, including Coinbase and Kraken, to re-list the token.

While a short-term spike in purchases has driven the price higher, demand for XRP among large investors remains low.

According to a CoinShares report, institutional investors prefer XRP over assets such as Solana, Litecoin and Polkadot - all of which have raised significantly more funds since the beginning of the year than the $18 million in XRP investment products.