Cryptocurrency XRP (Ripple) on Saturday tested highs since February 22 of about $ 0.64. In March, the token added 35%, and since the beginning of the month, it has added about 8% more. XRP has nearly tripled since the beginning of the year and is now worth more than it was before the SEC filed a lawsuit against Ripple. What is the reason?
At the end of December 2020, the SEC accused Ripple, its CEO Brad Garlinghouse and co-founder Chris Larsen of an unregistered sale of $ 1.3 billion in XRP.
Since then, there have been no significant advances in the SEC case against Ripple, but the token is more expensive than before the regulator filed a lawsuit against the company.
One of the reasons may be the general rise of the cryptocurrency market, writes ttrcoin. XRP, although it retains a capitalization of about $ 29 billion, now occupies only the seventh line in the list of the largest cryptoassets, while before these events it was the third.
Assets such as Binance Coin (BNB), Polkadot (DOT) and Cardano (ADA) have risen several times over the past months and have risen above XRP, disrupting the long-standing order at the top of the crypto rating.
The hopes of market participants for a favorable resolution of the dispute with the SEC may also have an impact.
XRP has acquired an “army” of investors in recent years. Recently, the court agreed to consider the petition of XRP holders to join them as a third party in the case, whose interests it affects.
Rumors are spreading in the XRP community that the largest US cryptocurrency exchange Coinbase is about to re-add XRP to its platform. After the start of the proceedings and amid its own planned entry into the stock market, Coinbase stopped trading in XRP, but still allows you to store and transfer tokens.
Ripple CEO Brad Garlinghouse recently admitted that one of the solutions to the current situation for his company may be to abandon XRP in favor of some kind of alternative. If the SEC wins the case, Ripple will be able to remove XRP from its payment systems and continue on its way without a token. However, this would be a complete disaster for cryptocurrency investors.
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