XRP high causes price explosion – 340 percent in 30 days

Looking at the XRP performance, one might think that Ripple has already won the lawsuit with the SEC. While investor hopes for a conciliatory outcome are pricing in, plans for the future are being forged in the executive suite – if necessary outside of the US market.

Four months ago nobody could have guessed how big the wasp’s nest was that the US Securities and Exchange Commission came across in the Ripple case. The matter actually seemed clear: The Californian FinTech is said to have issued unregistered securities for years and properly filled the pockets of the executive floor. Numerous partners and trading venues have jumped out of the XRP classification as security tokens, the “bank coin” seemed to have no future on US soil. But a few hearings later, the Ripple case developed into a boomerang for the SEC. The authority had to take a few slips in court – to the delight of the XRP investors.

Investors are hopeful

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Even if Bitcoin has once again moved into the limelight with a freshly formed record high, the XRP performance does not have to hide behind that of the crypto reserve currency. 77 percent speak volumes in seven days: XRP has a run. In the past 24 hours alone, the ripple currency has risen 33.41 percent. With currently 1.95 US dollars, XRP has reached a three-year high. Most recently, XRP was traded at a similar level in early 2018.

However, one looks in vain for the one trigger for the current rally. Rather, the price increase is the result of a previously confused legal dispute, which could develop into an unwanted stroke of luck for Ripple and an equally unwanted loss of face for the SEC.

The SEC recently suffered two bankruptcies. It is about insights into important documents that could have a decisive influence on the process. The competent court has internal SEC documents for Insight releasedthat could prove that for years the authority – contrary to its public stance – has classified XRP as a crypto currency of the type Bitcoin or Ethereum and not as a security.

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On the other hand, the authority was denied access to the private financial files of Ripple CEO Brad Garlinghouse and co-founder Chris Larsen. Another point of attack is also shaken. The SEC has always linked its stance to the allegation that Garlinghouse and Larsen have personally enriched themselves from the XRP issue. The burden of proof is now back on the supervisory authority.

Ripple reinvents itself

Even if a verdict is far from ready, Ripple seems to be gradually gaining the upper hand – at least in terms of external perception. And that’s enough for investors to give XRP its old form strength. Relisting rumors from major stock exchanges also contribute to this. CoinGate made the a few days ago Beginning. The fact that Coinbase and Binance could follow and also resume XRP trading has triggered the current price rally.

In addition, regardless of the process quarrels, Ripple continues to position itself in important key markets. With digital central bank money (CBDC) in particular, XRP is expected to play an important role as a bridge currency in the future. Ripple is also opening up to the area of ​​decentralized finance. The collaboration with the Chinese cross-chain developers Wanchain does not come by chance. Garlinghouse has declared the Asia-Pacific region to be an important hub for the company’s strategic direction. The message is clear: Ripple can with or without the blessing of the SEC. The Ripple managing director does not rule out an alternative US XRP version either.

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