Amid a weekend pump that has more cryptocurrencies higher, it looks like Ripple’s XRP is taking the lead daily with a push as high as 30% – carried at the back of a series of legitimate victories and rumors to reconnect to be some exchanges.
Where Bitcoin and Ethereum rose by just 2.7% and 3.4% on the day, XRP climbed to $ 1.36 before retreating to $ 1.32, where it sits at the time of publication. The digital currency is now rising 111% on a 7-day basis, and a staggering 544% year-on-year. The recent pressure has also pushed XRP back to the top 10 cryptocurrencies per market capitalization, just behind BTC, ETH and BNB, to # 4.
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– sats (@satsdart) 10 April 2021
The protest comes amid a lawsuit filed by the Securities and Exchange Commission, which alleges that XRP’s $ 1.3 billion ICO was an ‘unregistered security offer’. The news led to several exchange rates denoting the currency, and XRP lost its place as the third largest currency by market capitalization, and at the time it looked like it would fall out of the top ten.
The bad news for XRP did not stop at the SEC either. In March, Ripple CEO Brad Garlinghouse announced that the company would end its relationship with Moneygram – a once highly regarded partnership that investors often refer to as proof that the digital currency is on track to ‘the standard’ for payments to become. a settlement.
Despite the deluge of negative headlines, it seems that all buyers were a little bit hopeless to jump in again – and they got exactly that. Ripple attorneys have won two victories in their legal battle against the SEC, including gaining access to the internal SEC discussion history regarding cryptocurrencies, and a court has denied the SEC the possibility of revealing the financial records of two Ripple staff members, including Garlinghouse.
Ripple executives appear to be encouraged by the news, with CEO David Schwartz saying the US is not “willing” to regulate cryptocurrencies (a possible investigation into ongoing lawsuits).
All in all, it’s just another week for one of the most controversial cryptocurrencies in space.