XRP’s price-to-sales ratio is twice that of Nvidia
The XRP token's price-to-sales ratio is nearly double that of Nvidia, one of the most traded stocks on the market.
XRP (XRP) token has a price-to-sales ratio of 61.689 while NVD's price-to-sales ratio is 37. This ratio is calculated by dividing the company's market capitalization by the company's revenue or total sales in the past period. 12 months. The lower the ratio, the more attractive the investment.
Ripple's XRP ledger It generated more than $583,000 worth of network payments by 2023, Messari said. In comparison, Nvidia projected revenue of $26.97 billion in 2023, according to its fiscal 2023 report.
According to CoinMarketCap data, the XRP token rose by 0.15% in the 24 hours to 10:30 am UTC, to $0.6205, with a market capitalization of $34 billion.
Shares of Navia fell 0.49% to $898.25 in premarket trading, according to Yahoo Finance data.
Nvidia is the world's largest semiconductor chip manufacturer and the third largest company in the world with a market capitalization of $2.25 trillion.
The firm saw a 265% year-over-year increase in revenue due to rising global demand for its artificial intelligence (AI) tools.
The price of XRP has increased by 20.55% in the past year, while the price of Nvidia stock has increased by more than 241%, which is mainly due to the increase in global demand for semiconductor chips, which are widely used for high-end AI models.
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What is holding the price of XRP?
The price of XRP has been under upward pressure since December 2020, when the United States Securities and Exchange Commission (SEC) sued Ripple, its CEO Brad Garlinghouse, and co-founder Chris Larson. XRP token sale.
The case gained more interest in July 2023, when Judge Analisa Torres ruled that XRP was not a security but only related to programmatic sales on digital asset exchanges.
The judge also ruled that XRP is a security when sold to institutional investors, which meets the conditions of the Hawaii test.
According to a March 25 court filing, the SEC proposed that Ripple pay a total civil penalty of $1.95 billion based on Ripple's “law violation” for continuing to sell XRP after legal warnings.
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