$109,543.00
0.15%$2,789.51
4.57%$2.29
0.44%$670.13
1.24%$166.11
5.10%$0.999803
0.00%$0.198209
3.73%$0.290352
1.45%$0.720168
3.44%$2,788.02
4.61%$109,576.00
0.16%$42.08
8.04%$3,358.83
4.61%$3.51
3.85%$15.30
6.02%$22.27
2.85%$442.34
5.12%$0.281102
2.59%$9.04
-0.56%$3.30
0.20%$0.00001328
3.10%$0.179798
1.35%$2,983.69
4.68%$2,787.91
4.70%$0.999791
0.00%$91.93
2.04%$4.29
4.20%$338.74
1.84%$0.999104
-0.11%$1.001
-0.02%$4.85
2.65%$0.00001282
2.37%$8.37
17.59%$109,520.00
0.15%$0.641166
0.85%$309.41
6.31%$31.24
-1.18%$421.20
-2.23%$1.18
-0.01%$6.24
2.31%$2.63
4.67%$5.10
4.13%$53.44
0.88%$0.101332
1.05%$1.00
0.00%$200.55
4.99%$0.89485
3.59%$18.41
4.05%$1.055
0.02%$31.38
-0.21%$0.090113
1.14%$109,484.00
0.42%$0.682655
3.79%$18.47
0.31%$0.02602428
4.79%$0.999519
0.02%$0.357908
6.32%$10.91
2.39%$0.805669
2.23%$4.04
1.61%$4.60
4.62%$0.225714
4.82%$0.406989
11.90%$4.45
0.62%$0.089137
10.78%$1.17
3.34%$2.72
5.25%$123.42
1.34%$0.206756
4.14%$2,789.72
4.65%$4.62
2.18%$0.998674
0.16%$0.504762
7.66%$2.19
5.39%$1.57
13.75%$1.00
0.03%$0.99934
0.03%$175.05
4.95%$11.42
0.83%$2.11
7.88%$0.00001769
3.20%$1.34
8.18%$13.64
0.13%$3,175.43
4.73%$2,920.03
4.80%$0.398964
2.52%$1.25
0.18%$0.01844721
0.42%$0.718595
12.06%$4.12
0.18%$0.206449
6.28%$0.712301
3.57%$0.066857
10.16%$0.669976
14.93%$2,976.15
4.41%$0.999949
-0.03%$1.015
-1.17%$109,382.00
0.30%$0.999019
-0.11%$0.999625
0.01%$2,924.15
4.84%$0.537171
2.04%$0.101484
5.66%$0.710604
3.53%$0.164899
20.25%$2,927.59
4.68%$0.00009474
6.71%$669.89
1.23%$109,512.00
0.32%$0.974293
12.60%$184.95
5.03%$109,426.00
0.70%$2.60
6.14%$3,338.28
0.17%$51.08
1.84%$0.816879
3.51%$3,351.28
0.26%$216.09
5.27%$24.12
10.63%$0.01775369
4.53%$0.196711
4.74%$2.23
17.37%$0.01181399
7.66%$0.12895
4.13%$0.01532974
4.17%$0.302068
4.20%$4.50
3.81%$0.537419
1.91%$2.50
3.92%$0.00000072
1.17%$1.11
0.01%$111.38
0.01%$34.21
0.56%$0.999611
-0.02%$0.660456
2.81%$0.626641
5.34%$0.396079
4.63%$2,790.49
4.67%$0.997594
0.02%$2.01
-0.14%$108,689.00
-0.01%$1.74
1.40%$0.231932
1.82%$42.10
7.94%$2,940.52
4.30%$1.095
-1.47%$0.729088
1.16%$2,790.53
4.71%$2.03
-0.02%$0.058417
3.59%$2,979.01
4.66%$0.303056
5.01%$0.999769
0.00%$60.67
16.68%$3,015.35
4.73%$2.99
-0.33%$1.34
13.13%$0.534377
4.83%$9.31
-7.05%$109,525.00
0.27%$0.487655
13.83%$0.01528968
-0.66%$109,261.00
0.10%$2,790.87
4.81%$0.198151
3.80%$1.63
7.80%$0.418446
4.77%$0.666561
14.10%$0.995601
-0.27%$0.589443
7.61%$0.145338
5.59%$0.444214
-3.09%$0.607493
8.97%$7.29
6.81%$0.00468477
0.13%$42.13
8.01%$0.48988
-5.50%$2.84
11.85%$16.07
2.94%$0.00002283
2.96%$6.45
3.67%$1.60
5.89%$0.04901459
0.15%$2,786.90
4.74%$1.34
3.57%$0.061468
0.53%$106,210.00
4.13%$0.170581
9.30%$0.085463
0.84%$0.00000111
3.25%$1.00
-0.02%$0.999804
0.00%$0.172985
6.95%$0.00000043
1.67%$1.75
1.73%$0.00730129
0.56%$0.004587
7.43%$2,962.42
4.70%$37.60
2.90%$1.09
-0.79%$0.988969
-1.11%$0.402625
2.06%$0.999764
0.02%$0.04057696
3.68%$3,074.93
4.65%$0.01992666
2.32%$0.584959
3.57%$1.40
5.65%$1.001
-0.23%$3,045.21
4.75%$0.364985
3.80%$2,787.85
4.54%$0.078468
4.30%$0.00682111
2.40%$109,464.00
0.24%$0.834424
2.99%$0.03492735
2.83%$180.93
5.27%$0.00404981
2.01%$0.00006228
2.65%$128.91
3.44%$108,360.00
0.12%$22.25
3.19%$8.19
-0.43%$0.225447
4.71%$2,789.24
4.80%$0.737898
4.52%$19.89
0.43%$0.696762
3.32%$0.00389158
-5.44%$0.999861
0.02%$0.226377
6.13%$0.998535
-0.06%$0.02030252
2.50%$0.00448446
3.42%$0.00342812
3.99%$0.999931
-0.01%$2.49
2.07%$0.306357
0.73%$0.498899
2.85%$0.120645
-2.62%$26.90
3.05%$0.290179
2.35%$0.00000142
-3.61%$17.38
4.89%$109,455.00
0.19%$3.15
10.40%$1.008
-0.34%Reading
While Bitcoin and Dogecoin watchers enjoy the ebbs and flows of Elon Musk cosigns, and while LINK marines beat their chests boasting of the highest growth of 2020, XRP’s story has largely been a nail biting courtroom drama.
On December 21, 2020, the US Securities and Exchange Commission entered legal proceedings against Ripple, alleging they had sold XRP as an unregistered security.
Amidst the legal and semantic hair-splitting, multiple crypto exchanges delisted XRP. To make matters worse, its market capitalization subsequently plummeted by 63%, or $16 million, in a crash that proved ruinous for many investors.
The first signs of hope came when XRP’s price rebounded by 30% seven days into the new year. In the last 24 hours, XRP reached highs of $0.51 dollars at 16:27 UTC before dipping to a low of $0.39 forty minutes later. In all, XRP shot up 40% today, continuing a week’s growth of about 50%.
Larry Cermak, director of research at The Block, remains skeptical. He believes XRP could be having something of a GameStop moment. He said that XRP could be the victim of a pump n' dump.
XRP is being pumped by basically a pump and dump Telegram group and is up more than 50% in the last 45 minutes.
— Larry Cermak (@lawmaster) January 30, 2021
Whatever is happening, the surges come immediately after Ripple made a filing on Friday to rebut the SEC’s allegations. In the filing, Ripple pointed out how the SEC overlooked XRP’s value as a utility. As the filing explains:
“The functionality and liquidity of XRP are wholly incompatible with securities regulation. To require XRP’s registration as a security is to impair its main utility.”
In the 93-page filing, Ripple pointed out that XRP is open source and that its price has roughly tracked Bitcoin’s and Ethereum’s. In addition, Ripple has also filed a Freedom of Information request from the SEC to ask them how they determined that Bitcoin and Ethereum are not securities.
"The SEC is bringing this action 8 years after XRP was created. How are companies meant to have regulatory clarity when the SEC takes 8 years to bring an action? Also, Ripple rightly points out that by ignoring Ethereum, which clearly had an unlawful securities offering, the SEC is arbitrarily picking the winners and losers. It's clearly unfair and I do think Congress needs to step in here," Dean Steinbeck, general counsel and COO at Horizen Lab, told Decrypt.
"If we've learned anything from previous SEC enforcement actions, the big players like Ripple will get off with a slap on the wrist relative to the size of their $1.3 billion unregistered offering," said Steinbeck.
One thing remains certain: Ripple is determined to fight back tooth and nail for XRP.
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
The investment firm of famed tech investor Cathie Wood remains bullish on Bitcoin as its price has climbed back near its recently established all-time high of $111,814. Aggregate unrealized profit levels, Bitcoin ETF flows, and key support levels converging are among "bullish" indicators for the top crypto asset, according to ARK Invest’s monthly Bitcoin report for May. “Bitcoin has not hit irrational exuberance,” reads one of the report’s key takeaways. One notable sign that Bitcoin hype has...
Bitcoin Core developers have confirmed plans to remove long-standing data storage restrictions in the upcoming version 30 release, scheduled for October 30. The change essentially eliminates Bitcoin's current 80-byte limit on OP_RETURN outputs, which are special transaction fields that allow users to embed arbitrary data on the blockchain. Under the new rule, transactions can include multiple OP_RETURN outputs, each potentially containing up to 4MB of data. “Bitcoin Core is just one protocol imp...
The UK government has announced plans to begin trialling self-driving taxi services on its roads, just as there’s been blow-back in LA where several self-driving Waymo cars were torched. Several vehicles were set on fire Sunday during a protest against the U.S. Immigration and Customs Enforcement raids in Los Angeles and the Trump administration’s deployment of National Guard into the region. The initial plan in London, as put forward by the Department for Transport, involves a limited number of...
