Today’s XRP Price Is More Valuable Than It Was Before The SEC Lawsuit
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Answer Today’s XRP Price Is More Valuable Than It Was Before The SEC Lawsuit
The total market capitalization of the cryptocurrency market is approaching $2 trillion which is a historic milestone and further confirmation of the extent and size of the crypto market.
XRP is one of the largest cryptocurrencies by total market capitalization, contributing to the total market capitalization of $29.1 billion.
Legal issues are usually bad news for stock prices and cryptocurrencies.
The digital currency XRP has proven to be an exception.
The digital currency XRP is up 11% in the last 24 hours.
The price of XRP is now $0.64 at the time of writing, according to data fromNomexThe current price of the coin is higher than it was before the SEC filed a $1.3 billion lawsuit against Ripple on December 18, 2020.
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Four days before the lawsuit, XRP was worth $0.58 with a total market capitalization estimated at around $27 billion.
After the news of the lawsuit against Ripple spread, the digital currency XRP fell to the level of $ 0.17.
In the wake of the lawsuit, several trading platforms such as Coinbase, Binance USA, Blockchain.com, Crypto.com and eToro have suspended XRP trading.
After that, Ripple suffered from successive setbacks.
Its partnership with MoneyGram ended in March after the latter indicated uncertainty about the ongoing lawsuit.
But Ripple and its team have resisted the accusations.
They also asked the court to compel the SEC to turn over documents related to the SEC’s examination of Bitcoin and Ethereum, which appear to have escaped SEC scrutiny.
The agency has been very silent about its approach to valuing these cryptocurrencies.
These documents could include referring to XRP as a cryptocurrency rather than a security, which could reinforce Ripple’s positive position.
Ripple could also argue that it shares the same characteristics as Bitcoin and Ethereum.
As a reminder, the case filed by the SEC against Ripple is still filed and has not yet ended, but the performance of the digital currency XRP is rising high, not much concerned with it.
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