The reasons for the rise in the digital currency XRP
The price of the digital currency XRP rises to $ 1 ... for these reasons!
Ripple Despite the ongoing legal battle with the Securities and Exchange Commission (SEC), its value has exploded over the past few days.
The digital currency XRP rose by more than 70% in a week, and by 37% in the last 24 hours, which made it reach the value of $ 1, a value that has been absent from the currency and has not reached it since 2018.
We mentioned in Bitcoin Arabs in late 2020 that the Securities and Exchange Commission (SEC) had claimed that Ripple had made an offer for unregistered securities worth $ 1.3 billion.
Although Ripple executives claimed on numerous occasions to be victorious, the consequences for the company and the XRP cryptocurrency were immediate.
Many trading platforms have begun to delete XRP, especially those in the USA.
The adverse domino effect has affected the price of the XRP digital currency, which is down nearly 70% in a matter of days in late 2020.
Over time and with both sides submitting the documents to District Judge Annalisa Torres, the XRP cryptocurrency has already begun to recover.
This led to impressive developments, which ultimately led to XRP reaching a new high in 3 years, with the currency reaching $ 1, according to “coinmarketcap”.
To put this increase in perspective, the coin was trading at $ 0.40 on March 15th.
Additionally, it fell below $ 0.60 just two days ago on April 4th.
Meaning, the digital currency XRP is up by 150% in 20 days and 66% in 48 hours.
Reasons for the rise in the digital currency XRP:
This noticeable increase can be attributed to some extent to the hearing scheduled for today 6 April, which attorney Jeremy Hogan, not affiliated with the case, has classified as the next big thing to look at.
It is worth noting that while the XRP digital currency was removed from many trading platforms, some reversed the decision and re-listed the currency.
This was the case with the Swiss-based trading platform Lykke.
Around the same time, the #RelistXRP hashtag became a popular topic on Twitter in the USA.