XRP’s Legal Drama
Ripple’s gleeful week
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
$103,089.00
0.02%$2,350.73
7.32%$2.36
1.80%$666.88
6.29%$173.67
6.14%$0.999998
0.01%$0.206874
5.48%$0.783215
2.55%$0.261489
1.84%$2,338.89
6.97%$102,867.00
-0.17%$3.97
-0.74%$16.10
1.92%$23.37
5.08%$2,814.87
6.55%$0.297328
2.27%$0.00001515
6.04%$0.204171
4.93%$24.76
6.42%$414.32
-1.03%$3.31
3.33%$8.74
-1.05%$1.00
0.01%$103.60
9.72%$4.85
8.92%$2,348.87
7.27%$317.46
6.56%$2,498.76
6.70%$0.743284
12.16%$0.00001257
14.54%$4.46
-0.88%$0.998581
-0.15%$103,119.00
0.04%$1.00
0.05%$30.29
-0.23%$6.39
5.18%$434.39
3.08%$2.93
6.88%$5.59
1.80%$55.47
5.29%$211.81
3.54%$1.014
4.90%$1.00
0.00%$19.27
4.18%$5.48
5.18%$0.102016
4.92%$1.051
0.04%$14.37
15.19%$22.48
2.55%$0.10526
6.77%$33.46
1.64%$0.773295
2.26%$5.02
6.46%$0.0301583
4.39%$0.253912
1.49%$4.97
9.56%$0.832045
7.12%$0.371492
9.85%$0.999774
-0.33%$102,928.00
0.02%$1.17
0.01%$3.04
3.32%$0.23463
4.44%$3.08
13.28%$0.591828
4.88%$4.35
-0.02%$0.38013
5.23%$0.00002196
11.41%$4.54
3.25%$1.15
8.61%$0.571482
20.54%$1.001
0.22%$0.982818
-0.17%$1,740.56
2.77%$181.34
5.93%$2,350.14
6.95%$11.19
1.44%$95.79
0.84%$1.38
12.59%$2,441.28
7.11%$0.02006842
0.40%$0.858323
0.19%$1.96
-4.20%$1.27
0.22%$0.765354
10.87%$0.246108
7.11%$0.078729
2.86%$4.52
7.18%$0.671516
6.97%$102,856.00
-0.18%$11.92
6.81%$2,655.84
6.48%$1.002
0.16%$0.112884
9.13%$0.768652
2.00%$0.00010073
10.39%$672.67
6.99%$0.999874
0.01%$1.036
8.62%$224.19
6.27%$0.01441706
3.61%$0.912251
8.04%$0.998228
-0.52%$0.01842375
3.79%$2,505.06
7.35%$192.68
6.42%$0.01980035
10.90%$0.836883
9.26%$103,368.00
0.21%$42.16
5.15%$14.44
-2.08%$3,336.39
0.59%$2.87
3.47%$0.338471
6.16%$105,192.00
2.03%$102,578.00
0.72%$3,336.46
0.44%$2.48
10.85%$0.999985
0.00%$0.23964
4.12%$0.078611
6.84%$0.615695
-1.72%$0.00000082
9.25%$22.63
4.21%$2,463.29
7.37%$0.766073
11.75%$4.04
1.30%$0.192987
26.94%$0.120307
0.23%$0.43884
6.62%$42.82
1.69%$0.356048
6.64%$0.632285
6.55%$0.997807
0.02%$0.700903
10.38%$2.02
5.80%$2,401.96
4.66%$0.998818
0.05%$3.87
5.94%$0.01855653
-1.44%$0.742374
1.52%$1.10
-0.64%$0.01040818
2.93%$0.0060185
4.52%$0.471429
0.99%$111.00
0.02%$19.03
-6.78%$0.173483
15.46%$0.497697
6.02%$8.22
6.84%$0.693554
8.95%$0.206916
4.70%$1.51
9.47%$103,302.00
0.24%$0.652261
14.36%$0.523356
12.04%$2,353.17
7.48%$2,352.37
7.41%$0.199828
-1.69%$0.99999
0.22%$2,503.21
7.72%$0.191437
14.15%$0.999995
0.01%$0.00002487
7.54%$102,924.00
0.08%$2,389.34
6.52%$0.00899861
6.38%$3.90
6.12%$0.065029
-0.10%$2.90
5.81%$100,478.00
0.44%$6.59
4.53%$0.999995
0.01%$0.100972
11.73%$1.81
0.83%$0.089388
4.59%$1.65
4.90%$0.04648984
5.23%$0.00000044
1.32%$2,353.20
7.23%$1.019
2.00%$0.253872
1.57%$1.096
0.72%$45.56
4.77%$0.00605482
1.99%$0.631377
6.70%$0.00000104
4.71%$0.155805
-0.67%$1.51
0.92%$0.357677
12.15%$0.418025
3.46%$102,956.00
0.44%$0.390358
78.62%$0.03824738
4.32%$0.84196
10.52%$0.00441837
2.84%$0.385395
3.69%$0.01919558
2.62%$0.00006741
5.66%$1.003
0.23%$32.98
-0.84%$0.867105
5.33%$0.181006
2.87%$2,339.96
6.56%$21.66
0.84%$0.351481
-0.89%$2,352.68
8.22%$0.00000171
16.86%$0.00351554
13.17%$132.09
6.64%$1.24
11.43%$2,490.75
7.07%$0.747066
2.89%$3.05
13.02%$1.38
4.98%$1.00
-0.02%$103,060.00
0.06%$1.001
-0.21%$0.264985
8.84%$24.86
7.30%$3.96
17.51%$23.41
5.06%$2,578.07
7.33%$1.00
0.05%$0.00360752
14.84%$0.229046
4.19%$1.00
0.03%$0.540152
2.69%$2,563.96
7.57%$0.03574455
3.94%$1.098
0.02%$18.26
8.23%$2,350.98
7.42%$24.07
3.98%$2,535.29
7.48%$0.582494
3.34%$0.288829
4.85%$24.86
7.33%$1.00
0.02%$0.999676
-0.07%$0.04088996
6.42%$2,336.07
6.44%$3,327.40
-0.25%$3.40
-1.20%$0.00273305
13.27%$0.119076
11.95%$0.01424998
6.14%$0.813324
7.53%Reading
XRP, the native asset of the Ripple payments platform, has jumped 30% over the last 24 hours, from $1 to $1.30.
The rise comes despite Ripple, the fintech company behind XRP, facing a tumultuous legal challenge from the U.S. Securities and Exchange Commission (SEC) since December.
The SEC accused the fintech company of raising $1.3 billion in ongoing unregistered securities sales since 2013. Ripple denies the charges, arguing instead that the regulator should treat XRP in the same way it treats Bitcoin or Ethereum—as a decentralized project.
The coin crashed to $0.26 following the announcement of the lawsuit in December, and down to $0.2 after several leading crypto exchanges, among them Coinbase and Crypto.com, struck the coin off their order books.
But as the crypto market heats up, XRP’s back on top; XRP’s price is now more than double its price in the days before the SEC slapped the suit on Ripple, then about $0.6.
At a market capitalization of $57 billion, XRP today—once again—followed Bitcoin, Ethereum and BNB to become the fourth-largest cryptocurrency, according to data aggregator CoinMarketCap.
XRP’s latest rally coincides with the buoyant rise of the entire crypto market. Today, Ethereum set an all-time high of $2,197, BNB hit $471 and Bitcoin once again pushed past $60,000.
And today’s XRP rally follows a series of good news for Ripple.
Yesterday, the company prevented the SEC from exposing eight years of financial records from its CEO Brad Garlinghouse and former CEO Chris Larsen. Earlier this week, the company won a discovery motion that required the SEC to hand over documents relating to its internal thinking on crypto assets.
If those documents mentioned XRP as a "virtual currency" rather than as a security, Ripple’s lawyers could lob that against the SEC’s case, which rests on its determination that XRP constitutes a security.
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
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