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XRP token’s price-to-sales ratio is almost twice that of Nvidia, one of the most traded stocks in the market. While the XRP token has a price-to-sales ratio of 61,689, Nvidia has a ratio of 37. This ratio is calculated by dividing a company’s market value by its revenue or total sales over the last 12 months. The lower the ratio, the more attractive the investment becomes.
Noteworthy Data on XRP
According to blockchain data analysis firm Messari, Ripple‘s XRP order book generated over $583,000 in transaction fees in 2023. In contrast, Nvidia reported revenues of $26.97 billion for the year 2023 according to its financial report. As per CoinMarketCap data, the XRP token rose by 0.15% to $0.6205 within 24 hours by 13:30, reaching a market value of $34 billion.
According to Yahoo Finance, Nvidia shares (NVDA) fell by 0.49% to $898.25 in pre-market trading. Nvidia is known as the world’s largest semiconductor chip manufacturer and the third-largest company with a market value of $2.25 trillion.
The company reported a 265% annual increase in revenue due to rising global demand for artificial intelligence equipment. While XRP’s price increased by 20.55% last year, Nvidia’s stock price surged over 241% due to increased global demand for semiconductor chips widely used in high-level AI models.
What’s Happening on the XRP Front?
XRP price has been under increasing pressure since December 2020, when the United States Securities and Exchange Commission (SEC) filed a lawsuit against Ripple CEO Brad Garlinghouse and co-founder Chris Larsen, alleging that the company raised $1.3 billion through unregistered securities offerings via XRP token sales.
The case drew more attention in July 2023 when Judge Analisa Torres decided that XRP is not a security, but rather the decision pertained only to the specific sales on crypto asset exchanges. The judge also ruled that XRP is a security when sold to institutional investors who meet the conditions of the Howey Test.
According to a court filing dated March 25, the SEC proposed that Ripple pay a total of $1.95 billion in civil penalties based on its continued sale of XRP after legal warnings, challenging the laws.
