XRP has had difficult times after the announcement of SEC’s Ripple lawsuit in December 2020. It looks like the company has weathered the storm as XRP soared 38% in the last 24 hours with the help of the updates in the Ripple lawsuit.
XRP price jumped by 134% over the last week, which stems from two key legal wins achieved by Ripple. The first one is that Ripple’s CEO Brad Garlinghouse and former CEO Chris Larsen do not have to provide their personal financial records to the Securities and Exchange Commission (SEC) according to the federal judge and the other one is that Ripple has been granted access by US Court to SEC documents on Bitcoin and Ethereum. If Ripple lawyers can find anything to define XRP as currency rather than security on the documents, the case will like to get closed.
While many traders consider the question “Is XRP a good investment?”, the recent performance of XRP against Bitcoin and Ethereum can be a solid answer. Both Bitcoin and Ethereum have experienced daily losses last day while XRP price increased by 38% from $1.01 to $1.39. As of writing, the price is fluctuating around $1.42 and can keep going up with further updates.
The volume of XRP traded in the last 24 hours reached $17.6 billion which is nearly 13% of the total volume of all cryptocurrencies.
Although XRP recorded a gain of over 550% in 2021, it is still far away from its best days. The all-time high price level for XRP was recorded on January 4th, 2018 at $3.29. The recent jump has put XRP into the top 5 cryptocurrencies in terms of market cap. XRP is the fourth-largest cryptocurrency behind BTC, ETH, and BNB. Keep an eye on the XRP news to catch the next train going up and forward.
Ripple Lawsuit News: Court Granted Ripple Access To SEC Documents On Bitcoin and Ethereum